Ann: BMB Secures Investment in Nowa Ruda Project , page-29

re: Ann: BMB Secures Investment in Nowa Ruda ... Agree wazbee, it is what it is....

A CR at say 7.5 cents has now been avoided along with the associated Company wide dilution and 66M shares flooding into the hands of traders willing to sell for half a cent profit (IMO there is no way we could have raised money in the market in the current environment anyway). Our bank balance that was projected in the last 5B to hit $129k at the end of this month has now been shored up. The same 5B has us burning $1.5M this quarter.

Yes, a loan would have been a more palatable option (in the absence of the Balkans cash) if the $15M was a certainty, but IMO it isn't a certainty, just like most things in business. IMO I imagine that a loan option wasn't on the table given the impossible nature of raising capital for resource companies that has prevailed for the last few years. It's a buyers market and the financiers have the upper hand.

It's now June and tax loss selling time. Here's what happened to our sector in the month of June last year, ... -21%.