Was hoping that any placements would be above 1 cent, more into...

Was hoping that any placements would be above 1 cent, more into the 2 cent level but there was the 31st December deadline. That'd already been extended so had to be met.
Re the A$3mil trache due March 31st- BSM needn't do further placements to finance ALL of this.
There is a Court Case "settlement' of $3mil to be paid by Instalments up to JUNE 30th so that should be expected to provide say A$1.5 mil by March 31st.
Also there is a Possibility of Sale of existing Assets. A purchaser is doing Due Diligence with a Jan 31st "decision". Unknown what the Sell Price is of this or the Settlement period IF deal is concluded but there COULD be $1mil there by March 31st.

Of course there's BSM running expense to include. End of January the half/quarterly to 31st Dec will issue giving Ca$h Burn idea. Noticed that Director Performance Shares were REJECTED at a recent vote so the Board will have to actually PERFORM to curry shareholder favour which is a pleasant change.

Anyhow whatever the purported qualities of East Africa Flake Graphite re size, purity, lack of contaminents etc whatever so too does Madagascar. Madagascar stayed producing, was low cost production all thru the Chinese 1990/2010 "dominance".
There are End Users who specify Madagascar and various if not All the Trading Houses offtake from mines located there to be imported into RoW markets.

So yes @cazz69 this is a Listed Company that will be producing, no IS producing NOW for the Flake Graphite Market of 2016/17.It doesn't need $50mil Capex and then build the Plant, "perfect" processing for consistent grade, perfect Flow Sheet etc etc tacking on 3/6 months more til cash flow. It's SELLING NOW.
Anyhow no doubt the soon to be released research report by a "leading research house " will gild the lilly better than I so mid Jan this BSM should kick off and give all those nearology East Africa junior wanna bees a front runner BSM at getting 10 cents for next Xmas!!
CR's by Asset Sales NOT by sophisticated investor 'feeding' or if they are/ they hold .
I'm really hoping and expecting that Steve Riddle is investing big time in this Madagascar Connection.
happy new year.