This stream of “price sensitive” updates so close together now has me believing that a CR is very close. It is normal practice to raise before drilling to avert any chance of having to raise after a poor drill result (not saying a poor result is likely). These announcements generate the interest and raise the SP to limit the dilution and having to raise at extreme lows. It doesn’t make business sense to risk leaving it too late and especially in this macro environment.
I sold out and will risk sitting on the sidelines because for this type of risk I expect it will be necessary to offer a 20% discount making it around 2.2 - 2.4c.
all speculation and I may be wrong. Just my little bit of input.
BNL Price at posting:
2.8¢ Sentiment: None Disclosure: Held
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