I TOUed my post because it contained wrong numbers/assumptions.
Here are some , more or less, accurate numbers....This has nothing to do with whether BBX finds a pot of gold , but no harm in examining certain business transactions.
# RAB (Rotary Air Blast) costs around $6/meter....it is the least penetrative (up to 70 meters deep)
# RC (Reverse Circulation) costs $30 - $40/meter.....Up to 200 meters deep.
# Diamond Drilling costs $75 - $100/meter.....This is the Rolls Royce of drilling.
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The drilling contractor is charging 1000 shares/meter (the deal was struck when BBX was trading around 1c)....$10/meter , now over $20/meter.
We don't know how big the drilling campaign is , but dilution is unlikely to be great ( perhaps 5 or 6m shares).....The drilling contractor will likely be a seller soon after the share issue on the conclusion of drilling.
I am of the view that the majority of drilling will be shallow RAB , but could include some RC.
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Last
1.3¢ |
Change
0.001(8.33%) |
Mkt cap ! $9.968M |
Open | High | Low | Value | Volume |
1.2¢ | 1.3¢ | 1.2¢ | $2.171K | 173.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 9933 | 1.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.4¢ | 400000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 9933 | 0.013 |
3 | 627390 | 0.012 |
4 | 1135021 | 0.011 |
3 | 1199725 | 0.010 |
1 | 100000 | 0.009 |
Price($) | Vol. | No. |
---|---|---|
0.014 | 400000 | 1 |
0.015 | 452595 | 2 |
0.016 | 1074298 | 2 |
0.018 | 597632 | 1 |
0.020 | 5972 | 1 |
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