My understanding and expectation is the stuffing around that BNL has been doing is to achieve the purity rate of 99.99% which gives us pricing of up to USD$3,500 but they did have an announcement that current short-term contract and spot prices ranging between US$650 to US$3,000/Mcf for +98% He. They also referenced the Royal contract in same slide.
I have high expectations of this company now, they need to deliver what they have been suggesting or it has just been smoke and mirrors. I doubt we will hear anything until the 20th of Nov, once the SPP has been finalised. Made no sense to do that SPP aside to buy some time and lock in a couple of big investors without triggering a movement in the share price. They had cash to fund 2.5 quarters so shouldn't have been a rush there, made no sense. And in all honesty i dont care if they have tried to give themselves time here, as long as they deliver and deliver in November with drilling going ahead and production in December. Or all they have said is just BS and they need to be further reviewed for misleading shareholders.
IMO DYOR.
BNL Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
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