G1A should go into text books for how to average down and profit...

G1A should go into text books for how to average down and profit from a bad situation imo. The very significant LOM DFS downgrade was a year coming. Fortuitously, the share price fell steadily with the help of seemingly suicidal short selling and a falling market, managing to get down to the 13c level before a surprise CR was done at 12.5c. A 'had to be done now sorry' CR that only went to existing holders, management and their brokers, after which the price steadily rose and shorts closed out no doubt from placement stock.

Regardless of what NPV damage the LOM downgrade (that figure was never updated btw) from a shrinking, the project development always looked well on time and budget. I do question the need to raise $17M in July when it could have been done earlier given it was always sensibly required (ie it wasn't driven by capex blowouts), or later given the considerable time before Abra's JV partner tipped in their share of funds towards this 'URF' facility.


Yep, it's all worked out very well for some, OK for most. Glad retail who were ignorantly buying all the down have the chance to perhaps get their money back. Now we get to see how the DFS opex stacks up against reality, the new long hole stoping mining method in the flat apron ore works out, if the plant can infact run 10% above nameplate consistently with design recoveries etc, etc. The pump on completing development on time and budget was well flagged and played. Now comes the hard part of hitting production numbers/costs, and seeing who turns up to buy out those looking to exit having got their heads back above water... and at what price? Sentiment still disgusted and reduce exposure above 25c, but genuinely still GLTAH.