As always appreciate your attention to details!
I guess the main reason for the huge selling off in two days is likely due to the "expection" of coming CRs by sophisticated/insider investors because Glencore definitely will not only support GLN with USD70-100M prepayment to earn the margin of goods trading, but also should be cooking the way of equity investment. In my guesswork, there will be two CRs: one of 10% facility at a discount of whatever SP is and then followed by a strategic investment by the arm of Glencore, if GALN meets all set conditions.
Although the SP performance is much worse than expected after the release of the ANN, it derisks somehow and it is time to go out to enjoy weekend.
Ann: Galan Secures Glencore Agreement For Offtake & Financing, page-183
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Last
14.3¢ |
Change
-0.003(1.72%) |
Mkt cap ! $70.89M | |||
| Open | High | Low | Value | Volume |
| 14.5¢ | 15.0¢ | 14.0¢ | $48.35K | 333.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 22 | 359779 | 14.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 14.5¢ | 127656 | 12 |
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| Last trade - 10.44am 26/07/2024 (20 minute delay) ? |
| GLN (ASX) Chart |