Most lithium stocks (even with less resource) have enjoyed substantial gains over last few months, GLN with high quality resource, but only gained around 229%. CXO gained 1,225%.
I believe GLN is substantially undervalued.
Options conversion like a bit double edged sword, the company received cash, but some converters were selling, that was main recent selloff coming from. Luckily, the option converters have done their sales, based on my observation.
We have RIU presentation coming next Tuesday, which may attract some institutional interest.
Then lab testing results to come.
And have a bonus, Greenbush South Project to unfold over coming months.
Currently, GLN's market cap $121m, with cash $15m, enterprise value is only $106m.
ALL IMO.
GLTA.
Compelling opportunity, page-43
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Last
15.0¢ |
Change
0.020(15.4%) |
Mkt cap ! $74.05M | |||
| Open | High | Low | Value | Volume |
| 12.5¢ | 17.5¢ | 11.5¢ | $2.713M | 18.20M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 118000 | 16.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 14.5¢ | 2660 | 2 |
View Market Depth
| Last trade - 15.53pm 05/08/2024 (20 minute delay) ? |
| GLN (ASX) Chart |