It's a fact that the management screwed up on financing and they are constantly running short of cash. But I'm a buyer at this level (IMHO, DYOR) simply because it's so bloody cheap at this price. Taking cues from LEL's announcement (which sold its Solaroz for USD22/ton LCE resources), simplistically if I apply USD40/ton to its LCE resources (hey, GLN does have better resources and more advanced in terms of permitting etc), GLN should at least fetch USD320m market cap in case of a fire sale. GLN doesn't have debt, no worry about claim against its core asset (the brine!) so worst case is we stop operation and do a fire sale. Did I make any sense?
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Last
12.5¢ |
Change
0.010(8.70%) |
Mkt cap ! $74.50M |
Open | High | Low | Value | Volume |
11.5¢ | 12.5¢ | 11.5¢ | $177.4K | 1.480M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 28439 | 12.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
12.5¢ | 680357 | 8 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 28439 | 0.120 |
9 | 173782 | 0.115 |
20 | 1050586 | 0.110 |
25 | 1599983 | 0.105 |
59 | 3926990 | 0.100 |
Price($) | Vol. | No. |
---|---|---|
0.125 | 680357 | 8 |
0.130 | 549604 | 13 |
0.135 | 983914 | 3 |
0.140 | 133258 | 4 |
0.145 | 124000 | 3 |
Last trade - 16.10pm 02/10/2024 (20 minute delay) ? |
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GLN (ASX) Chart |