RE: 🚀 80M IS ABSOLUTELY PRIMED TO EXPLODE!17 Jun 2026 12:12
RNS Positives
(1) No third-party licences can be issued. This is positive news, although it only becomes meaningful if Disko/JM ultimately discovers something commercially worthwhile. (2) Good to see the company providing an operational update (80m). Keep them coming.
RNS Neutral
(1) Jameson funding remains on track. This is confirmation of what most investors were already expecting. It helps support the share price but is unlikely to move it materially higher on its own. (2) Disko drilling remains on track. Again, this is largely confirmation of expectations. Supportive for the share price, but not a major catalyst in itself.
RNS Negatives
(1) Further delays to HV/GS, with no committed contracts and no clear completion date. This is broadly in line with what RachT had predicted and is perhaps not a huge surprise, given that any positive developments would likely have been announced earlier to reduce dilution from the 30-day VWAP in June. Nevertheless, it is disappointing. The lack of an end date and confirmed contracts is particularly concerning. (2) JM: "The Company continues to maintain guidance for drilling to start during H2 2026, subject to receipt of final approvals." The key phrase here is "subject to approval", meaning regulatory risk still exists. Looking at the GLND share price, this risk appears to be reflected already. Ultimately, I believe approval is likely, as this is a licence to explore rather than to produce oil.
Overall
(1) Selling pressure continues. Despite many hoping it has finished, it appears ongoing, with seller(s) continuing to sell into buying demand. I do not currently see a near-term end to this. (2) HV will be able to sell its 220m shares from July (assuming they have not already done so). Whether they choose to sell is open to speculation, but it remains a possibility investors should be aware of, as such further fundraising can't be discounted (3) GS remains a significant concern given the absence of a completion date, budget, or signed contracts.
That said, I still believe this represents an exceptional entry price for new shareholders. The potential upside from Disko is significant in the event of a major discovery, alongside the opportunity presented by JM. We are all invested in this stock because it carries risk, but at current levels I believe the risk/reward ratio remains very attractive.
All IMO. GLA.