JDVICTORIA ..."The BUY placement was on the cards for a while...

JDVICTORIA ...
"The BUY placement was on the cards for a while and was announced before the sp hikes started."

This is not the case. I have followed BUY for some time now and what I think you are referring to is the 1.5c per share placement to all shareholders earlier this year.

I do not recall any mention of a further capital raising until it came out of the blue last week. I too have some serious concerns about this opportunistic placement at 5c after Kelso talked up the share price using his IEV valuation methodology - an entirely appropriate methodology to value a company with existing, proven hydrocarbon assets - but NOT, in my opinion, an appropriate valuation methodology for an explorer with unproven assets.