Look, M92. I am fully in support of the mgmt team and agree the assets are of the highest quality at Galaxy. My concerns are two fold, the absence of an intermediate growth driver and low margin of safety strictly with regard to valuations.
Everyone knows that a Mercedes-Benz is a great car but I am not going to pay $250,000 for one unless it can grow wings out of the sides and start flying. Especially when there is a Lexus on the next lot over selling for $25,000. For me it is about valuations and all anyone here can offer me are qualitative observations and fluff as reasons for holding onto GXY.
Having said the above, you are absolutely right -- If GXY lays out an actionable plan and clear path towards adding meaningful near term production (ramping capacity to 220kt+ concentrate? Fast-tracking James Bay? Merger with NMX.TO?) then that would change the fundamental picture for me and I will be happy to buy back in those circumstances.
I am in it for profits after all... not because I want to be a forum guru or because I have a crush on the MD. ;-)
GXY Price at posting:
51.5¢ Sentiment: Hold Disclosure: Not Held
