OK I get the pessimism here. No doubt many people have lost...

OK I get the pessimism here. No doubt many people have lost money.

At today's purchase price of 3.1 cents, BAT is valued at $36 million, has about $20 million in the bank and continues development at pace.

It's disappointing a major funding partner's mandate changed. This meant agreed funding was no longer available.

Is this management's fault? No. Could management have had better contingencies? Yes.

Those matters aside, the fundamentals remain strong and the project remains appealing. Those things won't change.

The challenge for the company now is to secure funding conditions that provide the most upside to shareholders.

I have no doubt management are well aware of this and take their responsibilities seriously to deliver such an outcome.


Just my thoughts.