Not a good day for BML. Down to 7.0c at one point. Recently,...

Not a good day for BML. Down to 7.0c at one point.

Recently, some G**** acted incredulous when I explained BML might ultimately need to raise at 5c. To put that number in context - if BML announced a CR at 7c (assuming a 25% discount) - the raise would in fact be at 5c. How much could the company raise at that price? Not very much, just a little over $2M (Keep in mind, Simon needs has a remuneration package of $650,000 p/a)

I think people are now (finally) starting to understand what I mean when I say that Boab has an IMMEDIATE solvency crisis. It can obviously forget about financing the mine (highly unlikely to ever happen), at this point its primary concern should be about finding enough money to give to Simon and also to ensure its survival.

Good luck. Happy to be on the sidelines for now but do wish you the best.