You are exactly right.
The previous owners of the project (an AIM-listed company - all announcements are available online) spent a lot of money exploring and eventually producing a feasibility study for the project.
IMO this is a strong project. From what I read, it seemed that the only reason the previous owners sold the project was because they changed their focus from gold to graphite.
As others have noted the main risk for GLA now is that they need to raise ~$1m cash and at current levels that is not ideal for shareholders. Ideally, this gets pumped to ~1c and they raise around there. Post raise and issue of consideration shares this could still be sitting sub 2bn SOI.
Will be interesting to see how it plays out.
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1.6¢ |
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Mkt cap ! $12.13M |
Open | High | Low | Value | Volume |
1.6¢ | 1.6¢ | 1.6¢ | $12.15K | 759.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 235550 | 1.6¢ |
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Price($) | Vol. | No. |
---|---|---|
2.0¢ | 548206 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 235550 | 0.016 |
1 | 200000 | 0.014 |
1 | 769231 | 0.013 |
3 | 485333 | 0.012 |
1 | 200000 | 0.011 |
Price($) | Vol. | No. |
---|---|---|
0.020 | 548206 | 2 |
0.022 | 409947 | 2 |
0.023 | 150000 | 1 |
0.024 | 200000 | 1 |
0.025 | 349252 | 3 |
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