If they keep up the same rate of exploration expenditure as they...

If they keep up the same rate of exploration expenditure as they did in the last 6 months, they will be out of money by the end of March.

So it's a high probability that this presentation is for a Capital Raising. I'm guessing they need at least $10 million and will have to place shares around 5.5 cents.

The market will never give BUL a decent valuation while their top shareholder wants to be off the register.

Cheers all,