1.2 is bang on expectation. anything less is gross, anything more is bordering frothy, given current price action. imo management give a bit too much EV away to do it at this level (if you believe in the news flow/pipeline in the short-medium term, then they should be able to get a better price at the right moment, but you gotta be strong in the face of the brokers/investors that are in your ear wanting to get a good price), and if the comments on it being upsized (and overfilled) are true, pretty strong evidence of that. but it is what it is, nothing unexpected, easy story to tell around getting the production pipeline built. hopefully the oversubscription puts some of that demand on the screen, especially if people were waiting for this raise to get their entry but don't get a full fill...
GCM Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
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