comments re afr article on bsm cap raising

http://afr.com/p/opinion/bass_metals_to_raise_zeCmuuhJaVcHiNujkdhQ0L?hl

the link above is to afr.com article re BSM capital raising. the full article is subscription only (but you can sign up for a 2 week free trial).

According to article:

a placement of up to 27M shares at 27c for $10M is expected to be announced;

$6.3M for exploration and $2.5M to progress DFS for gold recovery (presumably the tailings).

my comments:

i'd be very happy about the $2.5M for a DFS for the gold recovery from tailings. if the DFS can derisk this project substantially then "it's worth it's weight in gold"! ;-)

i'm less sure about the $6.3M for exploration. maybe this could wait and be funded from cashflow from existing operations? i guess it depends on what mike intends to explore (and expects to find?).

k