The only reason this stock is so depressing (in sofar as SP movements of late go) is that they need to finalise their debt/equity mix going forward. It appears they will need about $55M which will probably come from equity. Once sorted this should head back to $1.50 region.
It does depend on the price the insto's (or whatever entities) pay for the overhang. May be dilutive initially but will overcome this as their earning potential will still mean that they would be trading on low P/E multiple(even with the additional shares)
GXY Price at posting:
39.3¢ Sentiment: ST Buy Disclosure: Held
