In 2015-2016, gold price at usd1280, borneo oil has 18,860ounce of gold, their share is like hot cakes. This round with better gold price, more than usd2000, more gold found, 22,000 ounce. Share price fair worse than 2015. So if share price stay 0.06-0.065 for 30 days, better do an escape plan. Is not about gold anymore. Is about faith n credibility of this company.

If u look the chart from 2002-2020, borneo oil hit limit down 3 times (include now) rm0.02 before n hit limit up rm0.20-0.30 2 times before. Of coz, that was before share dilution, with current total volume share, Hitting rm0.10-0.15 is quite possible. This yr we see limit down 0.01. so is just waiting Time to limit up.

If my calculation is correct, lets see after 24-30 days price remain at rm0.065-0.07. If that happen, I can only conclude 2 things lo: company over confident their share very laku or company only interest in raising rm5-6million only. Haha

PP 242,000,000 at rm0.0435, sell at rm0.065 only can raise fund rm5.2mil, not even enough to cover exploration expenditures rm15mil. Rm0.095 can raise rm13mil la. One day share vol let say 10mil, need 24 days to complete the fund raising. So 24 days to sell out 242,000,000 to raise fund for only rm5.2mil? Kind of fail. In 2016, fund was raised at rm237mil via right issue. Kind of impossible to reach this amt of fund with this current price. Correct my calculation if i m wrong.