I don't think Bongo was over extending (just diluting). If Bongo...

I don't think Bongo was over extending (just diluting). If Bongo is a duster, I am assuming (?) that no more money to be put in. No big deal. The money they raised would not have been there if it weren't for the new play.

I also feel reasonably ok that if either Bongo or FP require further capital that it will be easier to get than current. They simply just need to prove it worthwhile, simple.

I may be incorrect, of course, however I feel the immediate capital requirements are really for just general operating costs. Hence the extension, and hence today's significant sell off (people worried).

Knowing that the SPP would fail they have been prudent to get together an investor presentation to 'dazzle' would be new investors if & when Bongo or FP prove up a little more than they currently have shown (so they are primed). In Bongo's case, some significant gas shows & in FPs case, a much better understanding of this bottom zone.

Their big mistake IMO was just the timing of the SPP. A tough one though because FP1 was to be online some time back which may have made an SPP easier and at higher prices, so less diluting and without the need for Minc. Easier seen in hindsight.

I feel that this stock will be unloved until the capital requirements are sorted out. And if HotCopper is anything to go by check out the lost love with the lack of postings of late!

Having said that I do see a great opportunity may be presenting itself. If people believed that the stock could reach 10c with current dilution then double the dilution (for arguments sake) and half the price, 5c is still 150% higher than where we currently are. When to strike is the question!?! Whatever is down there is still down there.

DYOR and all that stuff.