Ann: Term Sheet Signed for Development of BBM Coking Coal Project, page-179

@Bricking

Don’t own a single share

Just because there is yet another finance deal on the table, doesn’t mean it’s time to pop the champagne

This is now the 4th deal if I’m not mistaken, and probably the most highly dilutive in terms of BBM ownership

The fact is, they couldn’t produce from Anak and meet their plan to be cashflow positive. Remember, Anak started August 2017 and since then has produced how much coal ?

They had $46K in bank at end of last quarter, and estimated to spend $4M this quarter ! They need a cash injection of at least $3-4M

Even if they get the 2 * $1M tranches from Domain, they are still going to require additional funds as they flagged at the bottom of the last news

So the outcomes are, they get the funds next week on time and the stock pops - hopefully Dom raises at higher level and not via convertible note

What happens if they don’t ? What’s the plan for the $3-4M and what happens to the SP

Not being harsh, but when punters keeping accusing me of secretly buying stock, I’m going to spell out pretty clearly why I’m not