This is a text book dog stock and the leadership are still promising that the 'next quarter' will finally be the turnaround quarter. I cannot fathom how some are congratulating BDR for getting Sprott 'on board'.
It is a AUS $75m loan and SECURED nonetheless, the details of which have not been disclosed as yet. Sprott are not idiots. They can see BDR as the desperados that they are. So if BDR can by some miracle pay their money back plus interest, that's fine by Sprott. But if BDR screw the operation up which is more likely, Sprott will probably get to own a shite load of or possibly the entire operation. They won't lose.
This latest loan is an acknowledgment and capitulation that BDR is a bad and unprofitable operation that is now being kept alive on life support. The loan will however support to the directors for a few more years of high paying salaries.
Feb 2016 : a $50 capital raising 'delivering a strong balance sheet that blah blah blah, providing flexibility to pursue growth and blah blah blah'
Feb 2017 : a $51m capital raising 'with a strong balance sheet and blah blah blah, and a pathway to a fully optimised project blah blah blah'
Feb 2018 : a $75m secured loan facility 'ensures ample liquidity through the final stages of our operational turnaround blah blah blah'
