Apologies - incorrect statement
BZ have drawn down $13.7M to date, $12M of which has been drawn down in 2024 - so quite a ramp up in costs.
BZ have drawn down $13.7M to date, $12M of which has been drawn down since end of June 2023.
BZ burning just over $1.5M per month. I would guess that will be ramping up as they spread drilling across multiple sites. So to raise $40M in the short term doesn't seem excessive, $2M per month for the next year plus $16M loan to payback.
There will come a point, not too far away hopefully, when BZ will need to raise AUD$150M to start mining and processing all that gold.
For a close to AUD200M fundraising in the next few years - those remaining 20% of BZ shareholders will be asked to stump up $40M or see their holdings diluted.
That's just business.
Apologies - incorrect statement BZ have drawn down $13.7M to...
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