Without the land lease agreement, I believe the CR is likely to fail - and deservedly so. Unless the minimum A$3.5m that the SI's have conditionally committed to this CR is guaranteed, why should shareholders (new and existing) commit more funds to a perennial disappointment such as GMC?
On the flip side, how can they sign a long-term lease agreement before having secured the CR funds? Unless it's like the other binding agreements signed over there...
I'm hoping that Triple C are gauging interest at the moment and as soon as they're confident they can raise at least another A$2.5m (they wanted A$6-12m), then GMC will pull the trigger and sign the land lease.
GMC Price at posting:
4.2¢ Sentiment: Hold Disclosure: Held
