I know RF deserves a premium, but.... at what point does the premium not make sense?
E/V of $1.1b for a company that will initially only be producing 150k p.a at high costs (Gwalia is very high cost!).
DCNs mill will be fed from Tower Hill... in potentially 2-3 years time. So GMD will not be a 300k p.a producer until perhaps 2026.
All the while, a large amount of capex will need to be spend developing GMD U/G (which.... they still don't have a reserve on), and Tower Hill.
I struggle to see the upside to GMD over the next 2 years, but of.... the market must view things differently?
They are undoubtedly going about it the right way, but.... it is going to take a lot of time and money to turn things around.
Yet GMD is already trading higher than most of its peers for the same production profile.
Good luck to holders, but I think the biggest returns have already been made on GMD in the near term (obviously not a popular view on these threads!).
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$1.87 |
Change
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Mkt cap ! $2.092B |
Open | High | Low | Value | Volume |
$1.84 | $1.88 | $1.83 | $4.654M | 2.501M |
Buyers (Bids)
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---|---|---|
1 | 2679 | $1.87 |
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Price($) | Vol. | No. |
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No. | Vol. | Price($) |
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1 | 2679 | 1.865 |
4 | 14795 | 1.860 |
5 | 67216 | 1.855 |
2 | 12201 | 1.850 |
3 | 15331 | 1.845 |
Price($) | Vol. | No. |
---|---|---|
1.870 | 2681 | 1 |
1.875 | 38683 | 4 |
1.880 | 25941 | 6 |
1.885 | 15601 | 3 |
1.890 | 97906 | 5 |
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