Optimal Trader
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Optimal Trader أُعيد تغريده

Still digesting supply from unlock and equity raise last week, but will be interesting to see if $GLND stabilizing here a smidge below $3. Two insiders (both affiliated with the SPAC sponsor) were buying common shares and also warrants $GLNDW in open market yesterday -- decent vote of confidence, rare for a recent DeSPAC. I continue to be long, but trading around the position. Note there's a typo in exercise price of the warrants (should be $5, not $11.50). Company fully funded now for their two well plan to test and earn into a 70% stake of the Jameson Basin concession in Greenland. Assuming drilling plans stay on schedule, should be an intriguing few months. Company apparently intends to keep shareholders involved and up to date as equipment is mobilized and drilling commences. Highly risky (very binary) drilling, but wild potential if they validate hydrocarbon traps (each well will test several geological targets). Plenty of oil shows at the surface; basin has never been tested despite Arco being heavily involved there a few decades back.
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sec.gov/Archives/edgar…
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Optimal Trader أُعيد تغريده

