Ann: LOI Executed for Canning Basin Drilling Campaign, page-17

Can't get caught up in the hype considering the SP is down almost 50% from the "attractive" rights issue in May 2022 at 16c.
If that's all your down then your lucky your not a longer term shareholder.

Time to deliver.

Reminder if you have short memories and deep pockets....

Buru Executive Chairman, Eric Streitberg, said:
...Having reviewed various funding options available to the Company, the Board considers an
attractively priced rights issue is the fairest way to allow all shareholders to participate in
this exciting forward program.
In addition to the Rafael program we also have drilling activity this year on our Battmin
leases for significant lead/zinc targets, and an offer of a substantial grant from the Federal
Government to add impetus to our Geovault CCS program. We are also planning initial field
trials for our natural hydrogen exploration program.
.....We have an exciting period ahead and this rights issue will support our ability to carry out
our programs in timeframes that add the most value for shareholders.”


Rights Issue Details
Buru shareholders are being offered the opportunity to acquire fully paid ordinary shares in
the capital of the Company (New Shares) via a non-renounceable entitlement issue. The
Rights Issue is on the basis of one (1) New Share for every six (6) shares held by eligible
shareholders registered at 5.00pm (Perth time) on 9 May 2022 (Record Date), at an issue
price of $0.16 per New Share (Offer Price) to raise up to approximately $14.4 million before
costs (Offer).
The Offer Price represents a ~23.8% discount to the $0.21 closing price of Buru shares on
the ASX on 29 April 2022 (the last trading day of Buru shares before this announcement)
and a ~23.8% discount to the Company’s 10-day VWAP of ~$0.21 (as determined on the 10
trading days prior to the date of this announcement).