If they borrow US$60m it will probably be at something like a 20% interest rate. If there is a delay, eg environmental protest or unexpected weather, the company could end up in administration. It is not clear that a bank will lend to them even if they wanted it.
Galan is basically already out of cash and relying on this ATM instrument. It probably only has only about $10m of that left, and so is almost out of road.
Glencore has a long track record of screwing over clients, which was why there was so much negativity when they were signed up.
HMW is a great project, but is screaming out for owners with deep pockets. Some sort of take-over, friendly or otherwise, has to be coming soon.
Ann: HMW Project Achieves 1,000t LCE Contained Inventory, page-26
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Last
22.5¢ |
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Mkt cap ! $106.3M | |||
| Open | High | Low | Value | Volume |
| 22.5¢ | 23.0¢ | 22.0¢ | $503.5K | 2.239M |
Buyers (Bids)
| No. | Vol. | Price($) |
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| 15 | 695893 | 22.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
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| 22.5¢ | 83596 | 1 |
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| Last trade - 16.10pm 31/05/2024 (20 minute delay) ? |
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Last
22.3¢ |
Change
0.000 ( 1.11 %) |
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| Open | High | Low | Volume | ||
| 22.5¢ | 22.5¢ | 22.3¢ | 974887 | ||
| Last updated 15.59pm 31/05/2024 ? | |||||
| GLN (ASX) Chart |