"most undervalued stock on the ASX"I don't think you could find...

"most undervalued stock on the ASX"

I don't think you could find 1 person that understand even the most basics of valuation to argue with you on this.

Infact I used to be convicted of it too and promote it to anyone who would listen. Fell in love with it. People put warnings of the shenanigans that management did with property investments, but i blocked it.

BUT, the market is always right - its currently valued at fair price, maybe even over valued still - "why?" you ask?

Because trust is everything - can you trust the BOD? Cash and assets are worthless if you as a retail shareholder have no access to it. It will become worthless with the negligent or incompetent management GRR have. Some will say it is defamatory, but, this management sat idle and:

1. Let the SP drift down at the mercy and direction of the IO price change with no strategy, no proactive actions and no communication to shareholders (to the retail shareholders to be exact) - Crickets. The annual report calls out IO price risk under risk management. FEX's management took action and hedged. The experienced management of GRR did nothing.

2. Had years to make a plan and strategy taking different IO prices and economic scenarios into consideration. Why is it that they only decide to make plans now based on such volatile variable of the IO price. A plan should be ready and actioned ahead of this scenario. But GRRs management is not incompetent, they do have a long term plan. It's just a plan they haven't shared because it aligns to the main shareholder shagang.

So, if you want to invest because of financial fundumentals I can see why its tempting, but with such management that have complete disregard to its retail shareholders, you will only do one thing, add to the pockets of the main shareholder and the BOD. Beware.