We’re going to 60c at 3000bopd production and a Reserves Upgrade in a few months. If BRU issued 43m new shares as a placement to a big fund (who also provide a debt facility) and another 43m as an entitlement offer to holders to raise around $50m (and let me tell you when SXY did this, it was at a premium to their SP, which was already on a tear, not your usual discount to SP...) then Eric could justifiably ask you if you were happy with your previous 15c entitlement... and would you think another 20% dilution was justified with that kind of cash injection and debt facility and we press the Broome export button and add $10/b to our profit margin? I would bite someone’s hand off.
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buru energy limited
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Ann: Operations Update, page-51
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