cash is king and 20 mil will help sp, page-10

GRY need $208m, but already have some cash, so unlikely to need $100m debt and $100m equity. PVM (I don't hold this) managed to raise $115m from the equity markets in one go, which I think is remarkable- debt has not yet come through. Little wonder some major holders didn't want the company in some small-fry merger. So, if PVM can raise such a large amount, perhaps GRY can raise a lesser amount.