BRU 2.22% 4.6¢ buru energy limited

Ann: Webcast of Annual General Meeting , page-4

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  1. 698 Posts.
    I have to agree Speculator, Keiran gave a great presentation and I was left with the feeling that this is a guy I could trust. They've built up an impressive team too, which speaks volumes for the confidence these people have for the future of Buru.

    While I was extremely grateful to see the presentation online, it would have been nice to view the closing Q&A session too. And I hope that in future we can see the event live, and that the board will field questions from internet viewers. Surely we are near the point where this is a rational expectation from an ASX 200 company.

    I was also impressed that the board admitted that the reason for the piddly $5 million SPP was that the CR would not have happened if the SPP was greater than this amount. This is the first time I've heard a company admit that the investment banks insist on minimal SPP, otherwise they will not underwrite a CR. Obviously, the broker-banks do not want the masses to take their fill with the SPP, and thus not have the capacity to push the price higher so the broker-bank can dump the shares it bought for a massive short term gain. So much for broker support.

    Speculator, I'm pretty sure that Buru will be testing all 5 of the most recent gas wells, ie. Yulleroo-3 & 4, Asgard, Valhalla-2 and Valhalla North. They are doing maintenance on these well sites, so it follows that testing is the reason. I think they would have to experience major disappointment with the initial testing to forgo testing all of these wells.
 
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