General Discussion Banter GLN, page-14294

At this point it would almost be bullish if the Glencore funding didn't go ahead, and they were (somehow) able to complete pond 1, fill it and then pause the rest of the development. The market cap has halved in one month. The problem if they go ahead with the funding is that the terms will be entirely in Glencore's favour long term, but this wouldn't become fully evident until GLN are producing and the cashflow reports start flowing through.

I have noticed a pattern of holders of other resource companies (BCB, CXO, TIE, SYA etc) often just wanted to get to production as soon as possible as if that in itself would create a re-rating event, but when the production quarterlies started to flow through the reality of royalties, contract prices etc all came home to roost (and the subsequent re-rating went only one way: down). After all this time the last thing you want is JP giving away the farm for the first five years, just to say "we made it to production!"