Depends what the CR price is at. My gut feel is that they have put the feelers out to gauge interest. I think they'll probably end up raising at 27cents so not too far off their last big placement.
The problem is much capital has been sunk into Bombora and still nothing new or material to show for it. Over 310,000m of drilling. Sill No scoping study, no timeline for pfs, No insight into what the company is targeting to achieve? now they want to drill deeper to define an underground resource? where is the line in the sand? because at this rate, it won't be long till over 500,000m of drill will be drilled at Bombora and still not a clear path to production and that is 100% a piss take.
Typically with placements, there will inevitably be many participants that will flip them on market ASAP. Also depends on current sentiment in the gold sector but based on a few other CR's recently, they've all been smashed down below the CR Price.
They need the money. The funds will enable them to opportunity to try and unlock further value. IMO, they show go into TH ASAP and close out the Placement.
BRB Price at posting:
31.5¢ Sentiment: Buy Disclosure: Not Held
