JP has proven himself to be the dunce of all dunces on the ASX for equity and debt capital markets. The equity destruction has been phenomonal. Nothing will take that achievement away from him, no matter how good a turnaround he can orchestrate from here.
Selling Candelas would have been an obvious solution, posited here by a few people. There was much more value in giving up our extra pie-in-the-sky 20ktpa in exchange for capital upfront. However, the time to do it was when he didn't need the money and had negotiating power i.e. last year.
I agree that if indeed JP is still investing the $1M at 46c and 500K at 0.23 that is commendable.
Firstly, I'll believe it when I see it. Haven't seen it yet.
Secondly, if he does invest, he may truly believe in Galan, but as demonstrated already, he is dumb and delusion in his ability.
At this point, I think nothing short of a new CEO will turn this around.
JP has proven himself to be the dunce of all dunces on the ASX...
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Last
14.0¢ |
Change
0.010(7.69%) |
Mkt cap ! $83.44M | |||
| Open | High | Low | Value | Volume |
| 13.5¢ | 14.0¢ | 13.0¢ | $551.9K | 4.022M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5000 | 14.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 14.5¢ | 516260 | 9 |
View Market Depth
| Last trade - 15.59pm 14/10/2024 (20 minute delay) ? |
| GLN (ASX) Chart |