@Croc-fileLucky you covered with an IMO otherwise punters might...

@Croc-file

Lucky you covered with an IMO otherwise punters might have mistaken that for low-level trolling.

Even after fully diluting for a new equity issue of approximately $40m and the issue of warrants and shares to Castlelake (assuming GPX’s final equity in the project is 84%), the conservative valuation for GPX is still circa A$1.69/share.

I would suggest what true vulnerability actually looks like are term sheets that get laughed out of boardrooms across Australia, so much so that you had to engage an investment bank because your BOD couldn't get a debt deal done.