New CEO appointed - What’s next for BPM?

Published 13-DEC-2022 12:36 P.M.

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Shares Held: 1,670,000

Options Held: 850,000

This morning our exploration Investment BPM Minerals (ASX: BPM) brought in a new CEO.

BPM’s new CEO Oliver Judd was previously the company's exploration manager and has had >15 years experience as a geologist.

The most notable takeaway from the appointment today was the structure of the new CEO’s performance incentives which sees Mr Judd receive 1,000,000 BPM shares over the next 2 years if the BPM share price is consistently trading above 30c per share.

What’s next for BPM?

BPM holds $5.3M in the bank (at 30 September), compared to its tiny market cap of $6.9M, giving it an enterprise value of circa $1.6M.

Given the tight capital structure and a strong cash balance we will now be watching to see what comes from the Claw gold project in early 2023 or alternatively, we want to see the company bring in new projects.

Read our latest BPM note to see our deep-dive on what we want to see BPM do next: Assays in - What does $6.5M capped BPM do next?