As the third or forth largest BSM holder I contacted Mike regarding this cap raising and offered Helmsec a seven figure placement.
I was turned down as the placement was already allocated - I imagine from the recent HK conference.
BSM is in good health. As part of talking to Helmsec I asked if Fossey was going according to plan. I was told that there were absolutely no issues with Fossey.
There is a reason why Mike has expanded the institutional register into Asia.
IMO it is because a decision will be made in due course to go ahead and construct the gold/ silver plant. A portion of that will require equity funding and a portion debt funding.
Mike is forward planning this future equity requirement by bringing some possible future equity contributors onto the register now - to make the job easier in the future.
I will however, be contacting Mike to reinforce that existing shareholders need to be included when the main game (the gold plant funding) comes about on a pro-rata basis.
If you're selling at 38-40c based on this capital raising today you have rocks in your head (and not the valuable ones being dug up by BSM either!)
Very pleased with BSM progress to-date.
Cheers
John
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