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16.5¢ galan lithium limited

General Discussion Banter GLN, page-14234

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Tigerthecat

207 Posts.

184

03/02/24

22:51

Post #: 72224139
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Originally posted by Dusty Dave: ↑

Long term holder (2020).

In my job I have raised corporate debt; equity; taken smaller companies to IPO (not in resource sector).

My view of the last 4-6 months (apologies if stating obvious for some);

1) Debt due diligence always goes longer than you think even when the "deal is done".
2) As the Borrower, you always run competing processes alongside ie Plan B
3) However, you also must be aware and manage your exposures ie Cash burn/balance during the deal timeline
4) Black Swan Event - overstating it but most in the market did not predict the Li price would drop < 20,000. The drop to 13,500, would be enough for a re-negotiation of terms from the original "Heads of Agreement" which everyone on this thread would understand.

This could/would explain why JP/GLN were caught with their pants down and were forced to raise, to satisfy a facility loan precedent which was triggered due to the lower than expected Li spot price?

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Dusty, I don’t get how they described this deal with Glencore in a public announcement as “binding” if you think it is not?

What is your take on this wording. In what way do you think it is “binding”?

GLN Price at posting: 37.0¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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Last 16.5¢		Change -0.005(2.94%)		Mkt cap ! $78.20M

Open	High	Low	Value	Volume
17.0¢	17.0¢	16.5¢	$140.8K	834.0K

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No.	Vol.	Price($)
4	623726	16.5¢

Sellers (Offers)

Price($)	Vol.	No.
17.0¢	322941	15

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No.	Vol.	Price($)
4	625307	0.165
24	1410392	0.160
9	1268997	0.155
18	662423	0.150
4	410200	0.145

Price($)	Vol.	No.
0.170	246558	14
0.175	297600	6
0.180	161933	6
0.185	180000	3
0.190	55490	5

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