Post by mattbighamon Apr 21, 2026 5:25am
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Post# 36973709
What to make of the financing
What to make of the financingApril 13 presentation states:
Page 16
BYN are "FULLY FUNDED THROUGH 2027+40,000DP" at AurMac + 10,000 DP covering the exploration targets + MRE + PEA
Page 18
Cash :$38 million
I am no ecpert on what Banyan is now doing with this financing nor what it ultimately intends to do. Tara consistently stated they would sell AurMac. She has been wavering a bit lately.
WE will get an idea once Tara speaks next.
What we do know is that a private investor put in $16,8 million dollars and those shares were transacted above the market price yesterday when the announcement came out.
No warrants.
FT financing at $1.92 per share.
NO warrants.
Total proceeds of $46.5 million.
These proceeds are to be used to expand the 2026 DP and for general purposes.
I have seen this once before and that was a junior that raised far more cash than they needed,proceeded to drill like crazy and then tallied the resource for a sale.
Not saying that is what is happening here.
Tara is very fiscally responsible so lets say they will have 70+ million dollars in May.
That is a lot of cash to be expanding the 2026 DP.
If the company hires multiple more drills and go at the intrusion and promising targets in an aggressive manner there is going to be a lot of NR's and possible discoveries.
Let's see what Tara has to say.