Ann: Gascoyne Resources Update, page-13

Hi Sidewinder I know the market looks at least six months ahead, but if these are valid prices as far as ‘the forward looking’ goes, NRW’s headlights are staring down a very bumpy road.
On Friday we closed st $1.69 - exactly 50% less than on January 20 this year when the price was $3.38 a share.

On Friday more than 110,000 shares were sold at $1.65 - that’s the same price NRW closed at before the positive update on May 21, before Macarthur undertook to do business with RCRMT re the Helix dumpers, and before NRW’s alliance was selected as preferred tenderers in the $852M Bunbury Ring Road

Anyway at these prices I prefer to view NRW as undervalued, and will until official bad news is announced, or there is further management selling .

As far as Gascoyne goes, maybe it and everything else is now factored in and we were just overvalued last May at $1.65 but I don’t believe this to be the case.
And apart from the fact NRW is a significant holder of Gascoyne shares, AND the contractor, AND a creditor , I feel paying attention there is relevant because these delays (there will be no GCY capital raising now until at least September 1, 2020 - see @albeast post on GCY thread [here] ) impact the valuable time of Jules and team.

This is a material issue to me.

Cheers and hoping the road does not get any bumpier .