A few things to ponder:1. Have JPM been brought on board to help...

A few things to ponder:

1. Have JPM been brought on board to help defend against a future T/O? Is the underwriting a reward for taking this on?
2. The timing of this placement is good if BRU are indeed to be included in the SP ASX 200 from Monday. ASX 100 would seem to be on the horizon in the not too distant future IMHO.
3. Institutional placements are often followed by Share Purchase Plans offering existing holders the same deal as the institutions but limited to $15,000-not to be sneezed at though. I suspect we will not be afforded this opportunity though.
4. There seems to be a correlation between companies in this position (lots of excitement about their program) offering up shares to institutions and subsequent skyrocketing share price. Perhaps I am too cynical here, but it would tie in nicely with my first point.

I think though that this has all been engineered very nicely to strengthen Buru against predators and let the majors know that Buru management can take it from here (stole that last bit from Safe House). I assume that there have been ongoing negotiations with the predators over how to proceed: farmout, merger, etc. And maybe a bit of stalling to allow Buru to get it's finances in order.

Well done Buru! Onward and upward I think.

It will be interesting to see the final price of the placement-it will give us some indication of what to expect over the ensuing period.