Originally posted by oddlogic
The drilling as far as I am aware hasn't stopped.
Litigation should only take several weeks depending on what path they go down and when action has started.
BPL will have to pay the 30% share, they will need to do a CR, as they only have around $1.4million in the bank.
So they would need to raise, at least 50-60million shares @ 3cents roughly, They only have 150million shares on the books.
THat is a huge CR for such a small company.
They may cut their loses and sell the 30% to COB for $3-4million.
For COB this is a great strategy if this folds out this way.
They let BPL back themselves into a corner and cut off their own head so to speak.
Unless something dramatic has occurred in the last few days. I can confirm that all 4 drillrigs are onsite and going gangbusters. The head of the drilling company (Sydney) thinks it’s such a big deal he’s just visited the site. I am told that rock bunnies (geologist) are thick on the ground and that it’s not unusual to see Asian bigwigs get out of their new 4wd’s to inspect the goings on at Thackaringa where my source said the number of people onsite was quite staggering!
If you’re ever 23km the Adelaide side of Broken Hill on the main road it’s not far to the operations. A local update I thought SH’s might be interested in to take your mind off the other shenanigans at board level.
