7 AUD its not the same like 17 AUD! :), page-95

Imo you are mistaken if you think the market is anywhere near “always right”, as many like to proclaim.

I posted the example of GXY enterprise value (see Gareth’s table also) dropping to circa $100M in 2020 only to rise to over $1.7B in 2021.
This is merely one very clear example of the irrationality of the market. Where were all the buyers in early 2020? Why couldn’t they see what would happen when the world failed to end? Why couldn’t “the market” see that it was grossly undervalued?

Imo one needs to decide if they are buying a chart/trend or if they are investing into the business and considering its potential growth through some point in the future.

So, I ask you again, where do you see the company in 3-5 years from now i.e. what is their potential production (even factoring in the so-called “bad management” ), and what does this equate to in terms of revenue and earnings for various pricing scenarios? If you are genuinely “invested”, THAT is the type of analysis that should guide your assessement of “value”, IMO, not what the sp happens to be doing on one of its intermediate waves.

I am working on refining some DCF models for this company and will share a summary of scenarios when that is complete, to highlight my point.

cheers