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12.3¢ galan lithium limited

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Tigerthecat

216 Posts.

186

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
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(20min delay)
Last 12.3¢		Change -0.003(2.00%)		Mkt cap ! $61.71M

Open	High	Low	Value	Volume
12.0¢	12.5¢	12.0¢	$3.231K	26.53K

Buyers (Bids)

No.	Vol.	Price($)
12	620775	12.0¢

Sellers (Offers)

Price($)	Vol.	No.
12.5¢	98186	10

View Market Depth

No.	Vol.	Price($)
12	620775	0.120
19	625371	0.115
19	736590	0.110
17	847056	0.105
20	728790	0.100

Price($)	Vol.	No.
0.125	98186	10
0.130	289287	10
0.135	107200	7
0.140	365514	3
0.145	60000	2

Last trade - 10.19am 08/08/2024 (20 minute delay)

GLN (ASX) Chart