Agree - so it's fair to assume that GSL are not 100% certain it's a sure thing, despite signatures on paper. Remember that in Turkey the president now has absolute power to make any law he wishes simply by issuing a decree, so there's likely no legal recourse for GSL if the Turkish companies renege on the signed agreement. I would also assume that the Arena funding won't flow until the Turkish money is with GSL.
GSL Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held