I have to say that I'm with Happycats on the unnecessary antics that occurred on Thursday that led to the TH. As far as raisings go, rights issues give the opportunity for less dilution overall. Sounds like they now want to release the fully approved deal along with the rights issue details which arguably would have been the sensible thing to do in the first place. The use of these funds to increase Production, revenue and profit will make it a much better business so the raising is value accretive . Markets reaction to BSM becoming the first graphite producer on the asx was very positive on Thursday. Next time they release this to market all the boxes will be ticked and new investors can have a lot more confidence of where the Company is going and how it is going to get there. An updated price target from Pattersons wouldn't go astray once funding is in place all details are known imo.
BSM Price at posting:
3.0¢ Sentiment: Buy Disclosure: Held
