Maybe. But due to the wet season drilling usually doesn’t start until around June. I guess the finance facility will allow them to contract the drilling well in advance and to do more drilling perhaps.
It’s an interesting and somewhat novel funding arrangement. More like company issued options.
With a Q2 target for the reworked optimised FEED and drilling results unlikely before September lots more patience will be required. Unless BML courts a takeover before FID.
Happy Holidays all!
H
BML Price at posting:
19.0¢ Sentiment: Hold Disclosure: Held
