Hopefully for holders they will avoid a raising, however I am extremely doubtful that it is possible.
Historically BMN seems to like issuing cap raisings in the september quarter along with the AGM so I would fully expect to see something before the year is out.
They cant have more than a few million left from recollection and they generally dont like to get too low (in case the raising fails).
I would expect them to want to raise circa $5m (enough for another 12 or so months operations) - to do so I imagine the price will have to be quite low. I cant see RCF buying more unless they get given a steep discount to market as they have already taken a bath.
If they raise $5m @ 5c they will issue ~ 100,000,000 shares or 1/3 of the market cap - unless there are some decent sized U bulls out there that havent already been burnt, they may be forced to offer more for less.
I've always said I might have a look at BMN (or uranium in general) again in the single digits but I wont be doing it until at least the next cap raising has closed.
At the moment I think BMN is still overpriced for the risk - @ $600m PDN seems a better buy than BMN @ $20m - especially since it has several hundred mil worth of mine in operation.
If you imagine BMN diluted to the same extent (i.e. $700m to setup the mine), the 30:1 price differential wont be nearly as big.
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$3.03 |
Change
-0.040(1.30%) |
Mkt cap ! $532.5M |
Open | High | Low | Value | Volume |
$3.02 | $3.12 | $2.98 | $4.004M | 1.322M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 516 | $3.02 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.05 | 700 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 516 | 3.020 |
5 | 7265 | 3.010 |
1 | 6898 | 3.000 |
4 | 14864 | 2.980 |
2 | 3400 | 2.970 |
Price($) | Vol. | No. |
---|---|---|
3.050 | 700 | 1 |
3.080 | 4918 | 1 |
3.100 | 3000 | 1 |
3.120 | 2000 | 1 |
3.140 | 3000 | 1 |
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