So GXY didn't get smashed for the Alita move. There was no logical reason that it would be, of course, but that's never stopped it happening before!
Of course $1.23 is still pretty awful, but I think the wheels are slowly, slowly turning. In the end, as many have said, we can only sail on the winds that are blowing.
We have a good boat, and we have good sails, but that wind has got to blow.
I think buying Alita's debt was a masterstroke. Two outcomes: they pay GXY back, with the interest. Or they don't, and GXY takes over Bald Hill.
I've not been shy about criticism in the past, but I think this is solid-long game stuff from management.
GXY Price at posting:
$1.23 Sentiment: Buy Disclosure: Held