That's right Valinvestor.
Even if only $1m raised (half to repay directors) and only add $500,000 cash in the bank... $1m out of $4m cap is 25% dilution. Than they will need another raising shortly after. That won't even get through 2016.
I estimate by end of 2016, BML will need about 3 raising/placements (minimum) while nickel price will stay low. That's about doubling number of shares on issue, essentially BMLOB is worthless (I sold for over 2c).
What's doubling number of shares on issue mean? Every 0.5c share you purchased today will only worth 50% less unless you put in more money to avoid this dilution. At the same time nickel prices will remain low.
That's right Valinvestor. Even if only $1m raised (half to repay...
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0.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $4.737M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 44 | 47718015 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 15989921 | 21 |
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