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Ann: Receipt of Revised Non-binding Indicative Proposal, page-30

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csadeev

555 Posts.

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17/08/22

11:04

Post #: 63161347
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Originally posted by Jonnyash: ↑

Management have painted themselves into a corner when it comes to their use of debt and equity....They erroneously chose to develop K2H before the company had the capital and MC size to use equity without much destruction. But ego drove them full steam ahead. They took on massive debt and blew out the share register with a big raise. They could have had two batteries already operating now if they weren't fixated on K2H. They are now in the predicament where they can't borrow much more money without generating substantial risk, and equity is off the table if they want to keep their jobs. There is no way forward for management to develop more projects, until revenue is received from BBP and K2H. All because they went too big too soon. Kneecapped the business...And opened it up to a low ball offer from people who have the capital to realise substantial wealth from these assets.

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I couldn't agree more, nice summary Jonny.

GNX Price at posting: 23.5¢ Sentiment: None Disclosure: Held
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