Ann: $60m Funding Package to Drive Black Cats Vision, page-7

Yet it is not a $60M funding package at all. Nearly 40% to be held in foreign hands and only $15M raised as debt. Lets call a spade a spade but not to get emotional either. Cold hard facts count.

Same problem as AVB for Tony Polglese what a bummer. He had to raise all equity to get funded and then it got taken over. That is not to say I entirely disagree with Copperroad on my opinion of his excellent points.

The register will now have well over 500M shares so the rise to $1 as a share price will now need over $500M M/Cap. A rise for a developer to $250M M/Cap (just under 50cps) will not happen quickly IMO as we now have some risk that investors need to consider. At least now we have concrete numbers to work with.

Australia sorely needs a government support mechanism to keep Aussie assets mostly Aussie owned. This is sad to see in that sense. I am sure that BC8 have done the best they could under difficult circumstances just as Tony did with AVB. This company can do well but will face takeover (IMO) before it gets too far, and the Board will not be able to stop that. Look what happened to FML on Shandong at 51% ad DT raised the $250M over a decade ago.

Onward and upward BC8 I still support you and hope this turns out for the benefit of ALL shareholders and the long term interests of Australia too. I like management and the assets and the ground position. Perhaps I am looking at the half empty portion of the glass but after the last 20 years in the mining sector I have seen enough to become cautious.

DYOR CW