re: News: Bulletin Resources confirm depth po...
hey puzzled & co, yes disappointing to see large price changes at the moment on 70k of shares but there is just no reason for the market to be interested in BNR at the mo. I emailed Martin early Dec and he said the banks where doing DD on financing the recommissioning and that would take about 2 months.
Am not to worried about these short term fluctuations on low vol. The issue will be at what price is the equity component of the project finance done at, I reckon they'll need to raise ~10mill with equity and the rest debt, as the price drops that gets fairly dilutive.
I think its a good story with a good template in the market with NST, SLR etc...
If gold stocks over all get some wind in their sails, then we should rise closer to 10c which would be much better for financing
Good update the other day on BRR
BNR Price at posting:
5.7¢ Sentiment: Buy Disclosure: Held
