they dont need large funds to develop, the name of the game is to just do data room, maybe seismic etc, generate targets, then farm it out and be free carried etc. Thats where they become the minority interest in a bigger JV, and get that lift re-rate from micro cap, nothing to something decent in many phases, - ann of JV, leading up to spud of well, etc.
The point here is that they are a micro cap, that can farm out..
Entry price is ground floor.
That said, yesterday the tranche 2 CR and options were released, which is probably what capped the movement, and any traders got caught out.
We will need a week or so to allow the market to softly softly feel out if the rain clouds will open again, or whether the remaining placement is in sticky hands.
No movement on the options. Interesting. As plenty of them were released as well. Watch as the week unfolds, and see if a few are discounted.
GLV Price at posting:
1.4¢ Sentiment: Hold Disclosure: Held
