Crazy stuff - we are back to my original buy in price, I did not...

Crazy stuff - we are back to my original buy in price, I did not see that one happening. I still think that if a funding confirmation announcement comes through that the share price will correct course, but at the current market cap it seems that most people aren't interested in sticking around to find out. It's easier to sell today and get some capital back, and if funding doesn't happen you still have something, but if it does happen then you can easily buy back in. I should have done that, but here I am.

I think it's clear to almost everyone here that the resource is worth much more than GLN's market cap, even in this depressed lithium market. So it tells me that punters do not like the direction this company is heading. JP has never been good at selling the project, but he has demonstrated an incredibly good ability to spend beyond his means and the market is telling him that's a dumb move.

The recent volume is telling - this is a big vote of no confidence. Having said that, the chart is also starting to look a lot like capitulation, so hopefully we will find a bottom soon. The plus side I guess is that if you liked the price of GLN at any point in the last 18 months, you are going to love the price you can buy at today/tomorrow.

As a reminder - Allotment and trading of New Shares (Tuesday 6 February 2024)