Proven up reserves and will go hand in hand to SOPS.. This won't even hit retail like the last one, then, as no doubt we know, who will have his hand in the till again.
The best hoodlers over the past 5 years can do, is to have averaged down and look to sell out on the spikes to recoup capital.. They are years away from any profits with that bad decision to go all in and waste two years on the last single hole.
Promises a plenty on that one. Where we not to be in production by now? - Where were the buyers for that motherload?
Granted, this is the gamble that any engineer might take. But it has set the scene for losses for the next few years.
No matter how you spin the figures, the 50% split at this stage of spending close to 50m of shareholders' cap is not going to recoup the dilution that has been occurring.
I love to be proven wrong, but too many wrong moves over the years have resulted in less for holders than more.
BNL Price at posting:
0.6¢ Sentiment: None Disclosure: Held
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