GLN should get pond one filled, but then stop spending and go onto care and maintenance until they have sorted out phase one project funding. I don’t know why they are spending a cent on pond two?
Any financiers at this stage can see they can simply hold back the deal, collapse the company, and pick these assets up for peanuts.
If they get the deal done, Galan needs to put a professional corporate team into this company.
Ann: $19.5m Raising to Fund Ongoing Development of HMW Phase 1, page-77
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