Me either. I suspect the opposite for a few reasons:
The deal was referenced very heavily in the CR package. (You don’t have to be an insto to get the offer, just a 708).
Glencore still went ahead with a site visit. DD on this deal would be 95% a desktop exercise, with the site visit being a final sanity check. I can’t see Glencore sending a contingent around the world for a deal headed south. And I can’t see what could possibly happen at a site visit to see a few wells, dams and dongers to change their view.
GLN wouldn’t maintain their current rate of spending if they didn’t think funding was imminent.
Of course just imo. I could be totally wrong.
GLN Price at posting:
41.0¢ Sentiment: Buy Disclosure: Held
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