I have a theory why GGX (which has no assets...although they might get back into their Cebu, Philippines Service Contract that they lost some two or three years ago) is worth nearly double the market cap of SGC. They have a more robust balance sheet than SGC and are not trading insolvent. SGC have at least 3 Philippines assets at their disposal, and they have production in North America. And yet they are worth just over AUD 4 million. GGX has nothing in the books and yet worth over AUD 8 million. I compare the two simply because both are trying to do something in the Philippines. It is in my opinion (mostly) about the balance sheet differences between the two. As well as OPEX (GGX basically having nearly zero OPEX while SGC continues to spend on salaries etc.).
SGC Price at posting:
0.7¢ Sentiment: Sell Disclosure: Not Held
