the offer is fully underwritten by Veritas Securities and Ocean Equities according to the announcement - so the 4c funds are guaranteed.....
although GLF have prospects they have much work to do to capitalise on them and they appear to be a pretty sleepy board sitting on their hands for long periods with no investor communication - they knew for a long time they'd need more funds to ramp up vermiculite exploration and production, why wait so long to organise a CR?...... and they'll need MANY more to achieve anything like 150,000 tonne pa production - not to mention the dilution that goes along with all that - but I'm sure the sp will improve from 4c albeit very slowly......
GLF Price at posting:
4.0¢ Sentiment: None Disclosure: Held
