This is another reason the CR can't fail - "The fully underwritten renounceable rights issue to raise $8.87 million to finalise a mining licence application for Greenland Minerals and Energy’s Kvanefjeld rare earth-uranium project has already received strong support from institutional and sophisticated investors in Australia and Europe - notably from Danish pension funds."
IMO, any shortfall in the take-up of the rights issue will be swallowed up by these investors that have already placed funds with Patto's as the underwriter.
Once this CR is done and dusted, the share price should move back up. In these situations it's easy for retail investors to get spooked and subsequently,be taken advantage of by the big players.
I have also taken up my full entitlement, as it fits with my investment time-frame in this Company.
I'm guessing the options will trade in the 0.01-0.02 cent range once listed - any price is a bonus!
GGG Price at posting:
9.6¢ Sentiment: Hold Disclosure: Held
