In fairness - a well structured presentation. All fairly clear in terms of putting forward matters as they stand. Probably the most comprehensive presentation to date in terms of totality of content. Unfortunately, not a lot (if anything) that is new in it from what has been released previously. Be good to know precisely what roadshows they have been on and plan to go on. Likewise, some form of update from the London crowd who are supposed to be hooking up the finance.
Had to laugh......we've gone from "highly" leveraged to U price to "Unparalleled lverage". I sense that issuing this "announcement" might have been at least in part (if not wholly) in response to the chorus of noise about lack of communication. You could also be forgiven for thinking that they are struggling to make meaningful progress on that front - the tone of the presentation (in terms of repetition) just gave off a whiff of hard sell. You can't win I suppose - just my sense of it. If they are struggling for genuine interest they might want to take a good hard look at what might be standing as an obstacle to progress on the partner piece. Despite the various views posted and some plausible thoughts - I still think the 20% is a complicstion we don't need and should look to resolve.
Tibbs - your point about whether the initial mining licence application remains on foot and could be granted irrespective of the extended application planned is a good one - has that been put to the company ?
It is updates on the issue of the strategic partner piece, the 20% free carry and the mining licence that are really what we are looking for.
BMN Price at posting:
76.5¢ Sentiment: Buy Disclosure: Held
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