You obviously didn't listen to the investor presentation:
- well captitalised for 2024, no cap raise this year - could reduce spend to $2mill per quarter if necessary. - this year is mainly one for news flow from the work done last year (drill hole results this quarter, metallurgy, DFS, etc), so no major capital expenditure.
I got the impression that future cap raise would involve off-take agreements and possibly sale of a royalty, which is consistent with having a completed DFS and taking the next step. Ron also mentioned a couple of times that they are in a position to capitalise on opportunities that may arise from this weakness in the market. Ron also seemed to be of the opinion that the market should be recovering by the end of the year. He said that he has been through other bear markets in lithium and that they last about 2 years.
All in all, the company is looking OK and well positioned for the upturn. I think the off-take agreements eventually negotiated (in 2025?) will be the company maker. GL1 very undervalued at current price.
GL1 Price at posting:
50.0¢ Sentiment: Buy Disclosure: Held
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