General Discussion Banter GLN, page-14755

many thanks for your response!

maybe i need to clarify my statement. i didn't say that no offers have been received yet. At least i'm not aware of any specific offer that would have justified disclosure. to me, these 'offers' seem to have arisen in a conversation where everyone gives a number and in the end you realize that in principle there will never be an agreement here. it's literally not worth the ink on paper - as we say in germany.

i was just trying to make it clear that the comparisons to previous acquisitions around gln and in the 'triangle' can't be compared with the topography of gln's properties. it may be that gln has received offers so far, which are probably miles apart due to the mgmt's asking price and the potential buyer's offer.

if gln could sell properties, it would only be the flat, easy to build levels in close proximity to existing infrastructure (roads) and with a direct connection to the resource. all other properties in the second row may be suitable for solar fields to reduce dependence on diesel generators, improve esg and reduce opex. if the other properties in second row could be used for ponds, they would have included them in their pond design in previous studies. they wouldn't have to switch to candelas for further stages, as already communicated in the context of dfs stage 2. they could simply use other properties from hmw. they don't do it. and that's exactly why these other objects in the second row would either not be taken into account in a serious offer or would be included as a bonus. i can imagine that the management would want to sell all the properties together in the event of a sale.

in summary: my theory is that gln has outstanding resources compared to its competitors. the asking price of mgmt is different than that of potential buyers. if a sale were to take place, it would be a complete sale and not just the delicacies in the front row. that's why, in my opinion, gln is trading at a significant discount to its competitors. basically, the resources and the location determine the purchase price. nobody just buys the resource and then thinks about how to get the resource out of the ground. or at what price.

now the plot twist: chloride. nobody expected that gln would a) switch from carbonate to chloride and b) the construction would progress at an incredible pace without any 'collateral' (secured acceptance/financing, strong jv partner).