What you needed was a competent Finance Director 12 months ago....

What you needed was a competent Finance Director 12 months ago. Not a CEO who thinks "winging it" with hundreds of millions of shareholders' money at stake, was a legitimate strategy. He's totally and utterly failed shareholders at this stage.

The whole sector knows the financial strife GLN are in now, and nobody is going to do them any favors.

How long do you think an export license is going to take? 3 months? 6 months? 12? Outside of Glencore, who is going to want to touch GLN until an export license is granted? Stupidly tying themselves to Glencore means no Stage 1 product is available.

All I can see happening here is GLN deliberately fails to complete some of the requirements of the Glencore agreement, and snake their way out of it somehow. If they can't, regardless, more and more dilution happens at lower and lower share prices. $14m will last what, 2 months at current spend rate?

Or someone buys into the project taking the lions share for say the $50m or so required to finish the first stage.

On a scale from 1-10 of how p'd off I am with them right now, taking a massive hit, I'd say, 11. At least I can use the loss to partially offset the monster AZS gains of last year. One minor saving grace.