There is already a cap raise booked in as part of the options on issue (28 Feb 25). They are not in the money at present, but they could be with a few good announcements.
Whilst the SP is low, I could average down, but instead I wait to see if the piggyback options come into play. That is, the SP close enough to 4.6c and positive progress to justify going for 6c options with 2-year expiry. Think where BLG could be in 2 odd years time!
If the options don't pull in cash, another cap raise will happen sometime next year. The timing will be subject to any additional project revenues.
Either way, I believe there will be quite a few holders not buying on market at present and waiting for the next investment opportunity. Unfortunately, that doesn't push the SP up in the absence of positive news.
I'm looking forward to the CLAWS 2nd year funding update and also any project announcement this quarter.
BLG Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
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