they had $10m cash end of March ($16m the previous quarter), so I suspect they’ll raise during Q3 but unfortunately the timing, if I’m correct, will mean they’ll have very little remaining and MC can squeeze lower because of this. Coupled with poor spot prices and a challenging macro climate I really can’t see GT1 gaining any traction for the meantime.
they’re trapped between a rock and hard place atm, similar scenario to other companies they’re involved with. The only comforting thought is that these guys should be feeling some paper losses now too, or soon enough, the majority of their “skin in the game” shares came from the pre-ipo startup period when the company directors would have envisioned a vehicle to exploit easy lithium dollars, those days are gone, for now anyway.
Sorry, because a little rant in the end
GT1 Price at posting:
10.5¢ Sentiment: None Disclosure: Held
