Ann: Galan Response to AFR Street Talk Article, page-131

First 131 Last

Share
Profile

Follow
Suni

3,288 Posts.

778

07/08/24

19:19

Post #: 75114757
Share

Originally posted by Egeria: ↑

These things are typically leaked by a bidder to force the target's hand in my experience. What makes this unusual is the timing, right before Galan's presentation at diggers. Suspect that was intentional by the bidder but again people are free to speculate as they like. The fact JP specifically referred to the CA sitting with energy X I.e. the ball is in their court suggests so, why mention it otherwise.

If memory serves correctly liontown had fielded 2 unsolicited offers from Albemarle before they came out with it some 6months later. Not unusual to withhold releasing news of unsolicited highly conditional and non-binding proposals.

Re the proposal, it would have been based on a desktop review of the business and assets. The CA would open up the books for a more thorough dd which Gln would be hoping would entice a revised, higher proposal or a partnership opportunity if energy x has the funds. Essentially saying once you have an in-depth understanding of the assets, let's sit down and see if we can come to an amicable agreement which may or may not be endorsed by the board and shareholders. Perhaps a change of hands at the asset decouples from Glencores offtake. In any case it is the first and non-binding offer. There are usually a few bites at the apple in these scenarios.

Those hoping for a firm rejection by the board, while at the same time asking for a funding solution, probably are not fully across the situation the company is grapling with.

Sure JP had a strong preference for a non-dilutive funding option 12months ago and there have clearly been a number of missteps since then, however the biggest culprit over that time has been the persistent decline in li pricing and sentiment. This has caught out a lot of players in the sector not just Galan. Could they have done things differently, absolutely but that's the beauty of hindsight. Like everyone else, they were banking on a sector recovery while continuing to build.

With all that said I have been very critical of their decisions to date and will continue to be until proven otherwise. The funding as is monumental now relative to their valuation, scale of stage 1 and committed offtake with glencore.

Aimo

Expand

Doesn't seem like global X have the real money to pull this one.

GLN Price at posting: 12.5¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

Dale Gillham's weekly wrap: US fracking support boosts outlook for Australian gas stocks

NAM

Olam Agri raises Namoi takeover offer to 75 cents a share and receives shareholder backing

MM8

Medallion Metals kicking off 15,000m drill run at Ravensthorpe gold play

ASN

Utah authorities sign off on Anson's lithium extraction plans at Green River

VUL

Vulcan appoints investment bank and M&A veteran to board

There are more pages in this discussion • 104 more messages in this thread...

First 131 Last

Add GLN (ASX) to my watchlist

(20min delay)
Last 10.8¢		Change -0.008(6.52%)		Mkt cap ! $53.20M

Open	High	Low	Value	Volume
11.0¢	11.5¢	10.5¢	$317.1K	2.891M

Buyers (Bids)

No.	Vol.	Price($)
21	764806	10.5¢

Sellers (Offers)

Price($)	Vol.	No.
11.0¢	492595	16

View Market Depth

No.	Vol.	Price($)
21	764806	0.105
28	1539267	0.100
1	6000	0.099
2	60000	0.096
4	200300	0.095

Price($)	Vol.	No.
0.110	492595	16
0.115	452855	14
0.120	1108290	12
0.125	174576	6
0.130	186046	5

Last trade - 14.52pm 13/09/2024 (20 minute delay)

GLN (ASX) Chart

Ann: Galan Response to AFR Street Talk Article, page-131

Dale Gillham's weekly wrap: US fracking support boosts outlook for Australian gas stocks

Olam Agri raises Namoi takeover offer to 75 cents a share and receives shareholder backing

Medallion Metals kicking off 15,000m drill run at Ravensthorpe gold play

Utah authorities sign off on Anson's lithium extraction plans at Green River

Vulcan appoints investment bank and M&A veteran to board

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Ann: Galan Response to AFR Street Talk Article, page-131

Top Stories

Dale Gillham's weekly wrap: US fracking support boosts outlook for Australian gas stocks

Olam Agri raises Namoi takeover offer to 75 cents a share and receives shareholder backing

Medallion Metals kicking off 15,000m drill run at Ravensthorpe gold play

Utah authorities sign off on Anson's lithium extraction plans at Green River

Vulcan appoints investment bank and M&A veteran to board

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News