GRR 1.69% 30.0¢ grange resources limited.

Still trading at Disc to Cash. Why?, page-110

  1. 394 Posts.
    Last week I came to the conclusion that I might as well give the posting a rest & sit back and see which of the 3 sp scenarios (up, down or same) might eventuate. Obviously it is my belief sp should be up, way up from 11.5c. But watching trading & depth I thought 'someone' was gunna pull the sp back down and I would have been happy with either those senarios. The only thing I was hoping wouldn't happen, has happened, sp (11.5c) has stayed the same. SP is 'still trading at Discount to Cash'! So OK there's no 'stock (sp) manipulation'. There's just double the sellers (7.2mil) to buyers (2.7mil) who are extremely keen to sell their shares (portion of ownership) for below Cash levels that 'their' company is presently holding. Some on here have tried to justify this as normal or at least understandable, but not to my satisfaction. Is GRR burning cash at a great rate or at any rate? Well no, most on here are speculating how much more cash GRR is accumulating and even the more pessimistic posters I think would agree GRR is adding to the Cash at Bank in this current Qtr. In other words all and sundry think the cash backing is moving upward from 13.65c p/s. And yet someone wants to sell at 11.5 or 12c a share. OK there's no stock manipulation, so why is 'someone' so keen to unload their GRR shares (ATM approx. 4,000,000) under cash backing & seriously under intrinsic value? And even more intriguing, why does the Board do nothing to counter GRR's market value being keep well under realistic value?
    ***
    Last edited by stantrent71: 12/08/16
 
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Last
30.0¢
Change
0.005(1.69%)
Mkt cap ! $347.2M
Open High Low Value Volume
30.0¢ 30.0¢ 29.5¢ $237.6K 796.2K

Buyers (Bids)

No. Vol. Price($)
4 39651 29.5¢
 

Sellers (Offers)

Price($) Vol. No.
30.0¢ 29998 1
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Last trade - 16.10pm 22/08/2024 (20 minute delay) ?
GRR (ASX) Chart
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