There has been some confusion regarding the Addendum. And by the looks of the 50K and 100K sellers popping up near the asking price, some might have been spooked to sell.
The addendum states what basically every IPO has in their prospectus: The minimum placement. This IPO is a bit more complicated due to the in-specie component of ARL holders. Compare the old Prospectus with the changed sections. IMHO, nothing to worry about.
More importantly, BOD is putting in >600K of their cash. More than 10% of the required minimum cash ($4.5M) is already covered.
I would be surprised with current POG, the likelihood of near term tolling for cash flow and exploration upside, if this IPO is not going to be oversubscribed.
GLTA
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