BSM is looking for $4mil to buy into the Graphmada Project. It's...

BSM is looking for $4mil to buy into the Graphmada Project.
It's paid around $500grand as a "Deposit" raised by a 1.3 cent placement,
it now has $2.5 mil coming in from this court settlement in next 6 months,
there's a proposed sale of remaining assets being due diligence by End of January.
A calculation of these Value I read here from months ago was approx $1million

So apparently the $4mil is "covered" on a coming in during next 6 months.
ie no need for a Major Diluting Placement for a coupla Million$$ required.
Yes Que River may fall thru leaving a million$ shortfall

BUT before January 30th, highly probably in next 2 weeks, by December 8th
the Graphmada Project of Madagascar will announce Sales/ per Tonne Pricing, together with
projected next Qtr increased production/sales/cash flow FA Figures.
Assuming BSM mgt also issue definite Confirmation of the BSM 25% stake can be paid on a 6 month Time Line Basis?
Then all going well, clicking the pieces together, there should be no problem doing a Placement if required at 2.5 cent plus in January.
BUT I stress a raising of a Mil is not Vital at the moment. IF running expense only required say $3/400g it'll be IMO at 1.3 MINIMUM.

Anyhow this is one of the last Graphite Producer for 2016/17 plays going. It is Asbury Steve Riddle "backed".

DYOR

cheers.