Around October last year I posted about the capital raising at $1 while BND share price was in free fall on the back of Indians pulling out of the possible sale of assets. The market reacted by slashing the sp even further. At that time I pondered whether that move wasn't a mistake but a calculated move to ensure BND had sufficient funds to meet its development program in the face of jittery markets. So now we see all junior coalies getting smashed but BND still have $120M in the bank, a port and rail contract and are apparently going about their business developing their Springsure Ck and Dingo West deposits before 2015. At least this junior will not have to ponder the immediate future before people start to realise the enormous coal shortage that is looming post 2013!
BND Price at posting:
46.5¢ Sentiment: None Disclosure: Held
