still cheap17 Apr 2019 12:46
imho
i value this at this point as a 8 mill cap based upon the oil that is already coming out and the fact that this will be cash positive within 12 months (if all continues as it is).
when a placing is done, it normally falls back for obvious reasons. but not always. here you have a person who is already v wealthy. he has bought 30% approx. he is not looking for a quick profit. he does not want to just double or triple his money. this is a strategic investment and is looking at medium long term. even if he cashes his warrants - so what? they will be locked away and not flooded on market. i would rather have that then a 20% discounted placing which then gets forward sold.
just my thoughts. GLA