Per article published in The Australian on the 10th of February, BGL had appointed ‘defence advisors’ - this is obviously a result of high speculation of BGL being a takeover target by nearby good producers.
With $13m in the bank and 4 rigs on site, it would be estimated we have 6-8 months of drilling before the till is empty.
Which could lead to an opportunistic lowball offer.
Makes perfect sense to raise $20m now while things are hot for BGL. This way we have another 12 months at least I would say to confirm as many million ounces as possible and not be in a desperate cash position where a lowball takeover offer is only option.
IMO
Ann: Trading Halt, page-22
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Last
$1.29 |
Change
0.045(3.61%) |
Mkt cap ! $1.650B | |||
| Open | High | Low | Value | Volume |
| $1.29 | $1.31 | $1.29 | $9.792M | 7.552M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 65000 | $1.29 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.30 | 29409 | 2 |
View Market Depth
| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| BGL (ASX) Chart |