grd fire sale on now 1.27, page-4

I think so

Why?

If u capitalise Minproc earnings @8-10 times u get a figure
of approx $250m v current market cap $200m >might add that
70% of this years work is aready booked to clients & the pipeline of work looks great

The key for any suitor is unlocking the Global renewables
value & earnings here don't kick in to 2010, be handy if eastern creek was profitable NOW

By 2012 it has been estimated that GRL will contribute approx $60m EBIT .That is why I guess Macquarie brought in
at $1.80? maybe they were looking at a structured finance
arrangement.(no chance in current market). If u discounted back GRL earnings back to 3 or 4X allowing for current risks u could get 200m-250m for GRL


If TSE were interseted at $2.70 they must be licking their lips @ $1 not that they will get it at those prices but a cash bid would give the current Board a bit more egg to wipe from their faces

For a long term investor who is prepared for some more short term downside buying at these prices are a once off
but so are a lot of stocks