They did a CR to get funds for initial drilling ($5mil?).
They would be sily to do another CR until they have drilling results as these will lift the SP - more bang for their buck so to speak.
In fact, the SP could well double on the announcement of a successful permit approval. SP could well be in the vicinity of 12 cents with further announcements of successful drilling results and additional drilling permits being allowed.
Better t have a CR at those prices. Yes, all CR's involve some dilution for shareholders but they only have a billion shares or thereabouts so not really an issue.
BNL Price at posting:
4.1¢ Sentiment: Buy Disclosure: Held
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