agreed. say with 3.3m as at June 30, maybe a little less now, what's to say a CR is imminent? they could pay the lawyers, drill the well and still have a couple of mill in the bank.
if they are genuinely confident of getting 2-3% ++, the SP will look after itself and they could raise the same money with less dilution.
anyway, their job is to manage the cogcc and drilling. my job is to manage my position and risk.
BNL Price at posting:
6.3¢ Sentiment: Buy Disclosure: Held
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