Ballard Was ‘Fully Funded to FID’. So Why Raise $45M in a Weak Market? - Paul Brennan (ASX: BM1)
LEVRDShow Notes
In January, Ballard Mining (ASX: BM1) said it was fully funded to FID. Now it has raised A$45 million at 66c, plus an SPP, in what it calls a challenging market. MD Paul Brennan joins LEVRD to explain why now, the A$28 million village going up before FID, pits first at Mt Ida and the road to a mid-2027 decision.
WHAT WE COVERED
- Why raise now, and whether "fully funded to FID" still held before this raise
- Raising at 66c into a weak market instead of waiting for the assays at the lab
- Building the A$28M, 250-person village before deciding to build the mine
- Does the village make Mt Ida worth more to a buyer, or Ballard less likely to need one?
- Aurenne's mill next door and what consolidation around Leonora means for the endgame
- Pits first: can the open pits carry the mill before the Baldock underground?
- A$40M of drilling, the March-quarter resource update and a 10-year mine life
- Who took stock, the last raise before FID and the one milestone to watch by Christmas
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