Damned if you do, damned if you don't!
Shheesh, it's a hard gig being a director of an ASX listed company!
Everyone is entitled to their opinion but we are a junior exploration company with no income so how else do we progress Bombora? Four rigs spinning may be what allowed us to get a better understanding of the geometry of this deposit? Four rigs spinning may be what led to further lodes being discovered at depth? Four rigs spinning may be what delivers us a better than expected resource upgrade?
I don't think it will surprise many that a CR was needed and frankly i'd rather it sooner than be hanging over our heads the next time we get a good ann. Everyone can read a balance sheet and many have stated an imminent CR since the last quarterly was released.
As for dilution, we have a massive 182m shares on issue after being listed for just on nine years, many other juniors would have re-organised their capital structure at least once by now.
I hope this CR is the last one we need to see us to PFS and the precursor, a resource upgrade.
I'll have a stab, 33m shares at 32c for $10.5m oversubscribed.
Anyway, I’ll get back in my box now …
