Not that I don't like the optimism - But a no cap raise scenario only occurs where everything is timed perfectly. Simply based on the company's timings that they've set in the passed, it's never been able to hit even close to the mark.
I'd honestly not be surprised if even after we get the approval to drill, we see another couple of months go by because they haven't secured a rig not to mention delays in clearing the area for it.
Based on the last quarterly, the company is only funded for another 3.5 quarters. That means, in the next 9 months, they need to get drill approvals, progress other drill exploration targets, finalise the production plant, build it and actually drill into the well that will produce the helium that they can sell to bring in the revenues/ Again, all on time and within budget. All the while, paying for leases and keeping the lights on.
Happy to be proven wrong and am hoping we see those revenues in H2 (though WHEN in H2 is the big ?)
But until they can actually shore up a proven resource and produce revenues that's going to give financiers the confidence to actually lend them debt, I'd be of the opinion that we see a least one more cap raise and would even wager that it comes before they drill the BBB wells.
BNL Price at posting:
3.2¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)