Circles and Papertigger......
True, people have been saying that for years but it is a fact. Also equally true is that price often does not equal value.
I've been a pretty substantial holder in AGM and GUL for a long time. Early on I used to always look at GUL and see it was trading at about 20% discount to its NTA, which was almost exclusively made up of AGM holdings. When it got even cheaper I would buy.
I erroneously thought that one day this value gap would close - it never has and in fact has got bigger.
The only way I could see that you would get real value was if GUL was liquidated and there is no sign of that. Even if AGM was bought over there would be a chance that the 21 million (thanks for working that out) would sit in the GUL bank account and eke away in costs.
I'll be looking to exit (definitely at a discount to NTA)my position in GUL now this takeover is on. This way I will be sure the money gets in my kick. I'll let AGM ride at the moment as I think they will eventually get more then $1.
GUL is a dog but every dog has its day.
Chinkiat
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Last
6.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $13.31M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 191984 | 6.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
7.4¢ | 51338 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 191984 | 0.065 |
1 | 41000 | 0.060 |
1 | 7136 | 0.052 |
1 | 100000 | 0.050 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.074 | 51338 | 1 |
0.075 | 100000 | 1 |
0.077 | 875 | 1 |
0.085 | 50000 | 1 |
0.090 | 76667 | 1 |
Last trade - 10.04am 04/09/2024 (20 minute delay) ? |
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GUL (ASX) Chart |
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