The huge problem here is that they've only disclosed it because of a technicality, i.e. they issued shares to another party with the market uninformed about material developments - they've realised and had to disclose it in this way.
All this tells you is that they're so stubborn about taking this to production themselves that to the detriment of shareholders they won't consider takeover offers (this one looks a lot more legitimate than EnergyX out of Puerto Rico).
It's great validation to see an OEM interested in the resource but if financing with Chemphys falls over, I think the board have left themselves wide open to shareholder legal action.
GLN Price at posting:
10.5¢ Sentiment: None Disclosure: Not Held
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