The last time GRY was at ~55c was at the close of trade on 10th May 2010:
Share price 55c 216m shares for a Market Cap $119m Cash $23m Enterprise Value (EV) $96m Inferred Resource of 14Mt @ 2.4g/t for 1.1m oz gold EV of $87 per oz of gold
Close of trade 11th May 2010 Share Price 60c
Close of trade 12th May 2010 Share price 67.5c
On 13th May 2010 GRY announce a Major New Gold Target (Samavogo) includes 8m @ 4.43gt gold. Close of trade Share Price 74c
Today 6th Dec 2012 approx 2.5 years later. Closing Share Price 54.5c 400m shares for a Market Cap of $218m Cash and listed investments (TAW, RNS and PIR)Approx $95m Enterprise Value (EV) $123m Measured/Indicated/Inferred Resource 56.4Mt @ 2 g/t for 3.6m oz gold And a Measured/Indicated/Inferred Resource (Heap Leach) 49.2Mt @ 0.6 g/t for 0.93m oz gold Total 4.5 m oz gold EV of $27 per oz of gold
Another Resource upgrade to be released this month. DFS to be released this month. I will let you do the maths and draw your own conclusions as to what GRY fair value currently is. Market currently says 54.5c. Fundamentals indicate much higher. IMO, Excellent and exciting entry level if you are just getting in now. Hold or add if you are a current holder.
PS. Don't get caught with no stock when GRY shoots higher and quickly as it has in the past.
GRY Price at posting:
54.5¢ Sentiment: Buy Disclosure: Held