I actually don’t think this is that bad. The market knows on top...

I actually don’t think this is that bad. The market knows on top of Prepayment arrangement from Chemphy, GLN needs another ~$20mil to take us to production on time & this CR fills the gap. Once we have surety of cashflow, SP should start to recover from here as we are another step closer to production plus our resources worth much more than current market cap, currently skewed a bit due to uncertainty of liquidity.

I heard the CR price is 10.5c, not huge discount from current level. Like Hotfire said above, not that bad considering current market environment. If we have insto onboard, it could be better.

Some might argue why not raise when the SP was higher. I would think to avoid excessive dilution, we need to conform the prepayment amount first then raise the remaining which SP could be higher if lucky or lower if unlucky. Yes we are sitting on the unlucky side for now but I would say that’s nature of the market..

I’ll participate, even not a huge amount. I would love to help us to produce on time.