BCC real reply to email no deal, page-105

I received EXACTLY the same response as this when I emailed them last week:

https://hotcopper.com.au/attachments/fullsizerender-jpg.571506/

As somebody else posted, director Peter Torney only arrived back from North America last Wednesday (according to the office) so it is silly to suggest that we should've been expecting an announcement straight off the back of his arrival back home.

This is the week I have been anticipating/expecting news all along post capital raise - directors are well and truly back  after negotiations, a week has passed in between and we are ready to bear the fruits of their labour overseas including the BCC and other MM deals.

With a MC of $8.8m and $4.1m in cash for this deal + our other projects, you tell me whether we are undervalued or not.