Honestly, few factors:
1) Iron ore price remains on a steady uptrend - GRR as well as other iron ore miners would have better profitability in the next QTR.
2) GRR has a net asset position of $951m, with $400m+ liquid assets and very minimal $60m liabilities payable. Why is the market capital valuation only around $490m range?
3) If this a high risk investment why would GRR be in the business for so long and whilst remained profitable?
4) You are expecting the price to drop further - That is clearly a bearish sentiment, nothing wrong but just to state it as you mentioned you aren't bearish on GRR.
Iron ore pricd, page-32
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25.0¢ |
Change
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Mkt cap ! $289.3M | |||
| Open | High | Low | Value | Volume |
| 25.0¢ | 25.5¢ | 24.5¢ | $420.9K | 1.680M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 245437 | 25.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 25.5¢ | 70114 | 5 |
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| Last trade - 16.10pm 06/09/2024 (20 minute delay) ? |
| GRR (ASX) Chart |