Ann: Blackstone to raise $21M in Placement and SPP, page-170

Happy to answer this...

Fidelity are OK, of course. As myself and indeed others have stated, it's NOT the CR I had issues with... it was the timing. Plain and simple, it was very poorly timed in my opinion as it created greater dilution for all shareholders as there was no hurry to raise at that time and there was the SS, MRE and drilling results all due within a month of the raise. BSX could have raised funds post these announcements with a much higher SP (more than likely I'm sure you'd agree).

Now, you are correct in that we're not privy to those CR discussions, BUT I would say that if Fidelity put pressure on BSX to raise earlier than the company wanted they could have easily declined and found other investors... there are many out there happy to invest a simple $20-25M during the raise in a company with such strong fundamentals.

As for your query about why I still hold, well, I have explained that.

If the SS and MRE aren't released pre-market tomorrow it will be a second fail (or strike) in my book, and I will review my investment in the future should the company not perform as I believe it should. I'm here for the nickel as I'm a big believer in nickel over the next decade and currently see BSX as my second favorite nickel play on the ASX (behind CTM). I hold many resource companies globally, but BSX is my 4th largest on the ASX, with CTM my second largest. That's why I'm here. Believe you me, I'd be as happy as anyone with a rising SP... since the CR announcement, it has only dropped, so the market is telling us something, right?

Perhaps others are selling BSX today due to the fact there was no news, I don't know. We can't blame the market being red for the fall in BSX today, as while BSX is down CTM is up today.