well by the sounds it could be in the form of a buyback, whilst not Directors directly it could be a prudent use of funds especially when the MC/share price is so low you get max bang for your buck..
Right now GXY is sitting on I believe approx $1 per share in cash.. valuing its current operation at 407 M shares x .54c (value excluding cash backing) at just over 200M .. this is ridiculous considering 2018 revenue 159M W underlying EBITDA approx 50M and FY19 revenue is going to be closer to 190 M imho W undelying EBITDA at least 65M
yes of course the question remains 'mine life' but with the kind of turnaround just announced at Mt Cattlin, cash burn is over and funds can now be strategically targeted towards expansion
yes the question is 'SDV Capex' but realistically the project retains value and the further down the road they can 'prove' it up, the more some big player is going to pay, relatively, to get a piece
Of course GXY is the most heavily shorted Li stock but that is just more fuel for the upcoming fire
GLTAH
GXY Price at posting:
$1.55 Sentiment: None Disclosure: Held