I don't know what the transaction/acquisition is so I can only give an opinion when they make the announcement.
Just going by experience with new project acquisition (back-door listings) there will be a raising to follow to pursue the project development.
Last time GML raised money was back in November 2016 but it was just for $500k. With a market cap of just $6m their 15% capacity would only allow them to raise $900k. If this transaction/acquisition is a medium/large one then GML will be raising much more than just $900k so a shareholder vote will be called. I can also see a prospectus needed as well.
If there is a large raising (>$10-12m) I can see a good chance for a consolidation. If the raising is lets say up to $5-6m then likely no consolidation.
Trading Halt was called on the 8th February so today is exactly 2 weeks. If the ASX is asking questions and going through all the information in the background I would say whatever transaction/acquisition GML is working on will need a significant raising (>$10-12m).
I think in one of the Quarterly reports (not sure if it the December or October one) they mentioned "precious metal" but did say that there was more than one project being considered.
GML Price at posting:
1.9¢ Sentiment: None Disclosure: Held
