Yes, I get that. Most CEO's get very nervous and twitchy when cash balance of the company gets tight and the sp moves sides (at best) or falls, which forces them to take any offer in desperation, this is realised when the CR offer is announced at a huge discount and they pay a very premium price to the broker.
But GLN was never any where near these scenarios, JP was dangled a carrot by funds who wanted in ASAP, and he did what most CEO's do, take the easy option. As I said before, he had plenty of cash to prospect Greenbushes and Candelas to add value to the SP. IMO the SP would have been well over $1.50 within the next 3 months with results from HMW, Greenbushes and Candelas.
Ann: Galan Completes A$50m Institutional Placement, page-90
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Last
12.5¢ |
Change
0.010(8.70%) |
Mkt cap ! $74.50M | |||
| Open | High | Low | Value | Volume |
| 11.5¢ | 12.5¢ | 11.5¢ | $177.4K | 1.480M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 28439 | 12.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 12.5¢ | 680357 | 8 |
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| Last trade - 16.10pm 02/10/2024 (20 minute delay) ? |
| GLN (ASX) Chart |