Not sure why the SP dipped so much yesterday. Hoping for some recovery today given the strength of overseas markets overnight - particularly in the US - where BNL has its operations base.
We are getting very close now to actual drilling and production/revenue. Maybe as early as two months. Can't see the SP being anything but higher by the end of September.
BNL should be well able to fund this period of time.
I am not sure that any strategy/hope of getting shares back at 3 cents is sound and BNL will wait until the SP is much higher to get a bigger bang for the buck with any CR. Makes little sense for BNL not to strike when they have a better chance of getting more value from a CR.
Not saying that a CR will come or won't, but I can't see it as a priority this year. I could e wrong about that, but I doubt it will happen at the current SP level.
I can see your logic though.
BNL Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held
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