Brainchip Chart, page-908

Amazing Lions Premiership, I am so happy, started my Lions journey a long time ago as a 3- 4 year old around 68 years ago, saw Kevin Murray, Bob Skilton, Ted Whitten, Ron Barrassi et al as a regular attrendee of VFL games

BRN broke immediate technical resistance levels yesterday on strong volume, and is so far holding most recent price gains while at same time dropping down to 22.5c so that is nice from a technical view (don't want to see straight up) and volume is still strong.

So is it a pump and dump, well that wouldn't be a surprise, I don't think there is a leak BRN have been fanatical about not letting anything out, so my thinking is that it will continue to be a tight ship.

However it is now October, and I have a feeling that the price will continue to rise here, that last CR for me was really interesting, in that, the discount to market was a relatively meagre 4.5% discount to the 10 day VWAP (off top of my head), many CRs have to offer a significantly higher discount to market in order to attract capital support, particularly under current conditions money is tight and interest rates are actually higher than the 4.5% disc BRN got their $20mill for.

Then the underwriters said that they would not sell any of the shares for 12 mths, so I believe Sean must have been pretty convincing about the prospects for much higher SP over the coming months, otherwise I don't think the CR could have been pulled off on such good terms.

All my opinion or what some would call speculation there, but I reckon there could be some validity, many CRs are done at 10% to 20% discount to market, BRN got that money cheap which of course also means we didn't cop anywhere near as much dilution, I was surprised at the terms of the deal.

Next important shelf of resistance @28.5c, now that would be nice to see, and as I conclude this BRN is back to 24c

Go Lions