There is only one reason a company drops a price-sensitive...

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mondyinvest

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19/04/24

10:51

Post #: 73421808
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Originally posted by horizon3: ↑

There are certainly some negative commentators here. To be honest, I just cannot imagine how this could be negative.

This relates to the $15 million ATM funding facility announcement last Friday. There seems to be a deliberate pattern here: the funding announcement occurs on Friday after market hours, followed by a trading halt with news on permits on Monday morning. The chance is very low that something new happened over the weekend that was not known when finalising the ATM funding and led to this trading halt.

So how could they finalise this funding agreement knowing that something negative would come up, but not announce it to the market first? I don't think that would be legal (it would mean they told this bad news to Acuity Capital but not the market). Perhaps this scenario occurred: they arranged the $15 million ATM funding upfront and agreed with AC that they would finalize and publish it once the export permit (or stage 2 construction permit) is granted. When this happened, both announcements were initiated. However, now the ratification of the permit is taking a bit longer. Just my 2 1/2 cents. It could, of course, also be a very different scenario.

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There is only one reason a company drops a price-sensitive announcement after market close on a Friday evening. It is a trick as old as time.

In the context of what is now going to be at least a week-long suspension, it looks even more shifty than usual.

GLN Price at posting: 38.5¢ Sentiment: None Disclosure: Not Held
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