Ann: Chairman's Address to Shareholders, page-3

I am not at the meeting, but it would be a hard sell ATM, Management are banking on a superior offer from SEMAFO or equivalent, in my opinion. The 60c placement is some Insurance for them:- from the ann. today:-

However, the issue of new shares has important implications for the conditions of SEMAFO’s offer, with one implication being that the SEMAFO offer may be withdrawn. While the Board does not consider it appropriate to deliberately frustrate the Offer, in the absence of SEMAFO materially revising its Offer, the Board does not consider it appropriate to materially slow management’s existing work program and in this regard its priority will soon turn to securing the funding the company needs to deliver the next chapter of growth.

GLTA