Ann: Non-Renounceable Entitlement Issue, page-8

Interesting anns indeed... It's a lot smarter than just doing a CR at 2c to a soph / current large holder. This ensures that you have to be holding in order to pick up the 'cheap' shares...

IMO, this just means - if you buy at 5c and take up the offer, you are effectively buying at an average of 3.5c per share, which is like ~6m MC on a company that is about to have another $3m in the bank, strategic restructures coming, and a focus for Li in DRC on what looks like a block of land with great potential… So Current SP is effectively trading at ~3.3-3.5c (~6m MC).

Rough figures don’t shoot me down for it, but this was a smart move for BMZ IMO instead of just screwing holders by doing a heavily discounted CR and tanking SP.