Afer the after-hours quarterly release, showing how short of...

Afer the after-hours quarterly release, showing how short of cash they are, the smart move is to activate the ATM immediately. Rip the band aid off and hope they can secure actual finance in the next month or two.
Feels like the company bet everything, first, on Glencore and then, after the sector downturn, on forging ahead and praying for a recovery in the price.
Neither of which seem to be paying off. Sometimes you roll the dice and it’s doesn’t pay off. At this point, I think a takeover is the most likely outcome as a can’t see why anyone will do GLN a favour. Even the Japanese, Koreans or Chinese will be put off from offering any finance because a). Phase 1 is already committed b). they won’t necessarily be interested in getting into the chloride processing business c) still no export license (although of all the promises, this one seems realistic in the short term).
Will be very interesting to see how GLN get out of this pickle. Big upside available if they can, but gee, I wouldn’t want to be in their shoes at the moment.