Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
This company has been suspended for months and have a deal to buy a Canadian outfit and expand the business Now they are asking for more funds via a placement and share offer Would you subscribe to it? What are the prospects for the company. Can’t believe they have been suspended this long, a long time normally is not great?
Hi Peter,
Sorry, but we’re are not across BDM and it is hard to comment on it’s performance given it has been suspended for so long (~6 months). They are raising ~$190m, nearly double their current market cap, to buy a Canadian diamond miner, Arctic. The deal was underwritten, which is usually a positive in this scenario.
Long term suspensions are disliked by the market, though the company expects to be back on the board early in FY24.
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