Ann: Updated guidance and equity raising, page-20

BGL announced a $150,000,000 equity raising in July 2024 pitched at institutional investors at $1.55 per share.

It was said to be a "discount of 15.3% to the last closing price of A$1.83 on Wednesday, 24 July 2024 and a 14.5% discount to the 5-day volume weighted average price (VWAP) of A$1.81 on Wednesday, 24 July 2024"
... what a bargain! I'm guessing there are some fairly unimpressed institutional investors coming out of that debacle.

The POG at the time was ~US$2,400. Nine months later, with POG at ~US$3,300 ...

In April 2025 they announced (see thread header) a further equity raising for $156,500,000 pitched to institutional and professional investors, and if you were prepared to read through to bottom page 7, sheepishly set at $0.85, being a "25.8% discount to Bellevue’s last traded price of $1.145 on 26 March 2025 and a 30.2% discount to Bellevue’s 5 day volume weighted average price (VWAP) price (up to and including 26 March 202520) of $1.218"
... another bonza bargain for lucky participants!

Now, with the SP around 83c, I'm guessing the BGL board may be about as popular as ...
... well, the words spacesuit and fart come to mind.