I think they likely will issue more shares. Whether they issue a SPP to retail holders or just go to instos for 15% who knows. Regardless, I think 2 thinks need to happen.
1. They need to make some meaningful progress and good announcements to lift interest and get the SP off the floor prior to raising capital. 2. The raise needs to be linked to funding the next phase of development and driving the company forward.
Worst case scenario is they raise money at current depressed levels for the purpose of maintaining the status quo and paying director salaries.
BLU Price at posting:
2.3¢ Sentiment: Buy Disclosure: Held
