RJ
I'm pretty sure you said funded until 2020. You were saying about millions of option money coming in and $5 loan. I was saying GLN will need to do a capital raising in 2019. Read your own posts.
Well you can speak to Wealth Minerals (40,000 hectares in Chile Atacama which they paid >US$20 million) and Lithium Chile (159,000 hectares in Chile) in Vancouver. They have no problem with Chile. LPI paid crazy USD$27 million for tiny land which grades probably will be lower than BMG. BMG only paid USD$250,000 cash, US$3.5 million goes into drill.
BMG is $5 million market cap, how low can it go? How high will it go? Clearly, rewards much greater than risk IMHO.
I think depth is "maximum investigation depth is 400m" as per BMG announcement, 75m below surface.
Why didn't GLN wait until hole 3 results? If they have 2 choices. 1) Raise $4m at 27.5c now or 2) wait until hole 3 results since they are so confident, raise $2m at 50c? If I'm GLN director I will always choose option 2, unless results are not as good.
GLN does not need money now, why raise capital and give them massive discount? Why didn't they let investors chasing after higher prices?
Don't forget once they issue investors new shares at 27.5c, there are 14.5 million shares sitting at big profits. For example, if GLN gets to 50c, what do you think those investors got shares at 27.5c going to do? IMHO they will at least sell half (7.3 million shares), lock in profits and keep the rest. They haven't got their shares yet as GLN's announcement said "they are committed to...".
Just IMHO
Expand
