Guess if you spend a few years with a co like this, with everyone thinking you're the dogs bo****cks for a few years, it's quite hard to grasp that nobody likes RE anymore, and the best thing to do with a resource like this is to close the office and let it sit in the ground for a decade or so.
At least they haven't borrowed any money (yet), but they're trading well above cash backing, and at the current rate of cash burn they've only a year's worth left in the kitty.
I wish them luck with the CR, but whatever happens, they need to batten down the hatches a bit.
GGG Price at posting:
12.0¢ Sentiment: None Disclosure: Held
