If it is true that Feilong walked away because they were unconvinced about the proof of concept of the commercial viability re. recovery of Zn and Pb, where is the money going to come from make this happen? PIs through a dilution offer, IIs (allegedly in hiding for 4 years) through a dilution, or through a less sceptical partner org (resulting in a dilution)? Any thoughts
So, after all of the excitement in the week we finish with the bid at exactly the same level as we started on Monday. Lots to discuss next week, time to start challenging Masoud to come clean about funding...have a good weekend people and catch you all on Tuesday all being well.
speculation is rife across the boards with talk about the price level that will be achieved after approval. Okay, we can laugh at the ludicrous estimate of between 200% and 300% rises posted up elsewhere, but realistically on the day of the announcement where do people think the SP will be? I believe that on this day, it might get somewhere near to 2p, but perhaps just below...who knows, it could even be that the approval will bring a much more modest market reaction (given BMR's consistent inability to be transparent and hit deadlines/targets)...but the real spanner in the works might be any conditions attached that could bring additional costs and potential time delays. Lots of unknowns, but one thing is certain, buy into any spike at your peril. On a positive, what are your estimates for the approval day maximum price?
Keith, your answer is somewhat short of an explanation...care to elucidate?
Can anyone understand why, after telling us that off-take agreement negotiations are at an "advanced stage", they are now simply referred to as "continuing"? What went wrong and isn't this something of a significant concern?
Dan, debate requires people to express opinion and speculate about a variety of scenarios. For example, in November I suggested that the warrants would be discounted further to 1.25p (with my rationale), which was met with the abuse synonymous with the BMR enthusiasts. Under current rules that post would not have been permitted, thereby robbing the chance of the silent majority to consider the worth of my assertion (which did come to fruition of course). Debate requires posters to exchange alternative perspectives and although I have every sympathy with today's moderation style, due to the personal attacks etc., I would ask you to consider relaxing attitudes a little before the delete button is pressed.
Has anyone spoken to Masoud this week to ask about the funding requirement?
Keith, why do you think that 8p "looks realistic"? Can you give details and perhaps a timescale?
Red day here I'm afraid, when there is so much blue across the markets. At least people are starting to think about just how much money is needed...the next stage of the puzzle is to work out how much will be generated from a dilution and at what level it will be. Catch you tomorrow, all being well