Ann: Galan Response to AFR Street Talk Article, page-113

Oh GLN! This whole situation can mean so many things:

-It could be a dodgy privatisation of assets for the benefit of management, and someone wanted to warn shareholders by leaking it to the AFR.
- It might just be an indicative proposal that has not even been considered by management yet (nothing significant has happened).
- Or perhaps something else entirely?

Anyway, it's now at 12.5c. The market has spoken.

It's interesting that JP mentioned a few times in his D&D presentation that finance is coming now. Unfortunately, this can mean many things. My biggest concern is that management and shareholders could have lost their alignment, with management possibly working for their own benefit, potentially even against the interests of shareholders. As DJ said, he cannot understand why shareholders are so bearish, which underscores the misalignment. I feel it is currently 50:50—either management is working for their own benefit and exploiting shareholders (through capital raises etc.), or they genuinely want to fund this and bring it into production in way that it greatly benefits shareholders. However, success still depends on their ability to do so given the tough environment and our cash position. But given that "finance is coming" it seems we all find out "soon".