Why don't we stop looking at the figure the money was raised at and start looking at the figure raised. Why go to all this trouble to only raise 6m? BRN management know full well what raising at 15c would do to their ASX listing, yet they still agreed on the figure. With a cash burn last quarter of 2m this only gets us through 3 quarters, this leaves the question, does BRN think this is all they need to get the company up and running under its own steam. I'm guessing here, but I highly doubt BRN management will be preparing for another CR in 9 months time as they know full well that will cripple the SP and the company's reputation. This leaves me with some hope that BRN have an Ace up their sleeve that needed funds in order for it to make it's way to the table.
All in my opinion and I am only basing this with the facts we know.
GLTAH and DYOR
Ann: Trading Halt, page-152
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Last
25.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $502.9M | |||
| Open | High | Low | Value | Volume |
| 25.5¢ | 26.5¢ | 25.5¢ | $2.329M | 8.980M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 31 | 814890 | 25.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 26.0¢ | 135900 | 4 |
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| Last trade - 16.10pm 19/11/2024 (20 minute delay) ? |
| BRN (ASX) Chart |