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I highly suspect the parties involved will have a good idea of the scale of the plans. If GSX regulatory approval is gained and we see some plans then even fully converted I don't think it will hold us back.
It's very minimal share dilution. Surely focus on the fact we've just bought 50% of the Gibraltar Stock exchange for a few mills. Much more to come I suspect. Expect big things here given who's involved.
The issue is if the buyer started trying to buy EUA on the open market then the price would skyrocket anyway. The buyer will buy at fair value for the assets, that could very well be many multiples of the current market cap from here. Doesn't matter what the market thinks if the buyer can make shed loads of money on what it sees as fair value. Just because it hasn't happened before doesn't mean it will never happen.
The short and simple answer to that is. You have to spend money to make money. They are going through the motions until it gets taken off their hands. If the BOD think it necessary to place with an institution at 26p then so be it. Value will out here eventually, I think we have some big JORC on the cards soon.