I know RF deserves a premium, but.... at what point does the premium not make sense?
E/V of $1.1b for a company that will initially only be producing 150k p.a at high costs (Gwalia is very high cost!).
DCNs mill will be fed from Tower Hill... in potentially 2-3 years time. So GMD will not be a 300k p.a producer until perhaps 2026.
All the while, a large amount of capex will need to be spend developing GMD U/G (which.... they still don't have a reserve on), and Tower Hill.
I struggle to see the upside to GMD over the next 2 years, but of.... the market must view things differently?
They are undoubtedly going about it the right way, but.... it is going to take a lot of time and money to turn things around.
Yet GMD is already trading higher than most of its peers for the same production profile.
Good luck to holders, but I think the biggest returns have already been made on GMD in the near term (obviously not a popular view on these threads!).
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$1.75 |
Change
-0.080(4.37%) |
Mkt cap ! $1.963B |
Open | High | Low | Value | Volume |
$1.81 | $1.81 | $1.74 | $5.463M | 3.102M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 4522 | $1.75 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.76 | 25382 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 4522 | 1.750 |
2 | 12892 | 1.745 |
5 | 80786 | 1.740 |
2 | 14895 | 1.735 |
2 | 14895 | 1.730 |
Price($) | Vol. | No. |
---|---|---|
1.755 | 3478 | 2 |
1.760 | 10862 | 3 |
1.765 | 20841 | 3 |
1.770 | 46933 | 5 |
1.775 | 18841 | 2 |
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