its so tough to know when to sell when something has closed to bottomed out, especially if it has no liabilities. EVERYTHING has a value at some level.
I would happily buy a pile of turd if I could on-sell that same pile for double what I payed...
I dont see GDN as being worth much more than the value of a shell company on the ASX.
You have what is called a management premium, where the quality of your management value adds to the actual core business you own.
In GDN's case I think it is fair to say they have a management discount, where the management actually REDUCES the value of the business to close to worthless.
IIRC if someone buys this shell out they will havea 50 odd million tax break due to the current exploration costs already incurred. Someone with more knowledge of the US taxation and business scene might know more.
GDN Price at posting:
4.2¢ Sentiment: None Disclosure: Not Held
