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08:33
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Originally posted by Dwnon4
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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.
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They have no aces they will be back with cap in hand in 12 months time with another cap raise but will probably be sub 10 cents next time
(20min delay)