BNL is required to give a reason for the suspension request as...

BNL is required to give a reason for the suspension request as per asx rule 17.2. I presume it would have been that more time was needed to secure the placement… I’d say it hasn’t gone as well as they wanted. Raising at this time, on weak news, is risky. But their choice was to wait and hope no bad news came from drilling, potentially disastrous for the SP. Tough choices because management have taken too long to get to this point.

We are looking at a near 10%+ dilution here if the leaks are true, admittedly a portion offered to holders. If it’s at 2.1c, we better pray for good news to accompany the end of suspension. This will be a hard sell to the market, expect sub .02c in the shakeout.