They have no choice but to raise, they have no money left. The last quarterly shows they have just over a month and half worth of cash to cover expenses. The problem they'll have is finding anyone to bet on them considering the helium play hasn't worked out at all thus far and they seem to be putting their attention to CO2 which they also haven't proved. Again they've 'targeted' a production date but shareholders saw how that worked out with the helium targeted date which they've clearly 'forgetten' about.
Further dilution to shareholders will be needed to raise even a couple mil, so even if they do get things running somehow, at this point, any shareholder value is all but eroded.
They have no choice but to raise, they have no money left. The...
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Last
0.5¢ |
Change
-0.001(16.7%) |
Mkt cap ! $9.724M | |||
| Open | High | Low | Value | Volume |
| 0.5¢ | 0.5¢ | 0.5¢ | $1.941K | 388.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 32 | 11118780 | 0.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.6¢ | 3467012 | 3 |
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| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| BNL (ASX) Chart |