I'd suggest the reason why there was some decent buying on...

I'd suggest the reason why there was some decent buying on Friday was simply down to the confirmation that GLN is finally 'preserving cash' to enable a longer runway for funding to be negotiated - the probability of a positive outcome increases simply because they have more time to do it. That's a tangible/real shift in the state of play, around THE key concern. At the absolute minimum it kicks any need for another CR down the road - it'd be nice to understand the quantum of that, but we don't have enough information of cash burn at the slowed pace of development.

As anyone who has spent any time in/around this small cap mining space, 'negotiations' 'working towards' are statements that get thrown around like confetti. Sitting around picking holes in the lack of substance on that front is a total waste of energy. The only thing of substance is that GLN has adjusted their development schedule to provide time and opportunity to get funding sorted out.

The SP trading so far below the 23c CR so soon after the ink dried was overdone imo, so a bit of a bounce back isn't so surprising - might even have a little more in it. Of course, a real re-rate can only come with the confirmation of a funding deal getting done, but if Friday's activity is a gauge it will be a hell of an inflection point