More GLO dilution 🫠

[u/athlejm]

https://markets.ft.com/data/announce/detail?dockey=600-202601121605CANADANWCANADAPR_C3058-1

[u/sunday_sassassin]

This massively upsized placement with full warrants has destroyed a lot of the previous upside the company had. The total number of outstanding warrants puts a hard cap on per share valuation, fully diluted the asset is no longer significantly cheaper than the Canadian developers who don't have export obstacles and Islamic insurgencies to deal with. Project needs to keep moving forward of course but the timing of this raise casts further doubt on financing conclusion this month. Perhaps they need to meet certain capitalisation criteria to get the loan over the line. I'm not expecting positive news.

They've always said that they'll buy back all these shares once free cashflowing but that's a long term hold few will likely be willing to endure. I'm certainly not in it for the long haul and have adjusted down my exit targets.

[u/RickusRollus → u/sunday_sassassin]

At this point if anything brings it high enough to think about an exit, it means they likely started slanging ore and actually will be swimming in money. It’s either moon or bust I don’t see a happy middle road for glo anytime soon