Ann: Gulf Secures A$10.8M Cornerstone Investment, page-17

I suspect those of you sledging the deal are evaluating it on the simple metric of what the effective issue price is. But this seems a pure strategic play. It’s a bit like overpaying for an acquisition that you know might not be worth what you pay on a pure multiple basis... but the integration synergies to your business make it compelling. I would suggest this will be a pivotal moment for gmc to progress now to commissioning. Who knows how the market reacts, but I have a feeling this will have derisked things dramatically.