Tough crowd.
Facts are the market is currently valuing GLN at $60m AUD.
The cash component of this offer (to buy assets, not a takeover) is $75m AUD. Plus stock - what that is worth is debatable of course, but I'd be asking about EnergyX SOI etc. before I totally started shitcanning that part of it - GLN still has ownership interest in the Argentina assets indirectly through EnergyX shareholding. Plus 10% royalty directly to GLN ongoing 10 years.
It isn't a takeover offer and the company has stated that clearly. I could see a way where it's not such a bad deal (or more correctly, not such a bad deal compared to the current market valuation of GLN).
Ann: Galan Response to AFR Street Talk Article, page-37
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Last
13.5¢ |
Change
0.005(3.85%) |
Mkt cap ! $77.48M | |||
| Open | High | Low | Value | Volume |
| 13.5¢ | 13.8¢ | 13.0¢ | $131.3K | 973.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 31 | 1058961 | 13.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 13.5¢ | 132477 | 5 |
View Market Depth
| Last trade - 11.03am 14/10/2024 (20 minute delay) ? |
| GLN (ASX) Chart |