Nice - This new vid from the MD says everything you should need to hear on GPX, page-17

Thanks mate.

If WKT I've been chasing "Primarily debt" , what you are saying re rejection would make sense.

From what management have explained, they can get a Castlelake type deal without too much fuss. HOWEVER, holders have given strict instruction in relation to amount of equity in a deal.

I know GPX have already drawn down funds from Castlelake and I'm not sure if they have any outs, but if I was in charge, I'd be looking for more debt, less equity based deals.

IMO, Castlelake staying the max they will pay for capital is 28c really stopped GPX's SP from moving.

Don't quote me on this, however I recall reading that if the SP is bellow 28c, castlelake would get their subscription at a 10% discount to VWAP.

That means to get funded at 28c, SP would need to be 31c...

The real catch is that there is potential for shareholders to participate at similar terms to Castlelake. If holders know they will be looking for capital soon, they will hold out buying. That's probably why the SP hasn't been as strong lately.

If I have misinterpreted the deal/terms, please explain further @reiners I may just have to buy a few more GPX