I like the CGM story. Am no expert at reading financial...

I like the CGM story.
Am no expert at reading financial statements so I like to keep it simple and look at ROE.
With net assests at the end of the 2010/2011 financial year of 10.8 Million and net profit of 3.1 million.
A ROE (return on equity) of 25-30%.

The way I look at it, if I had 10 million I could put it in the bank and receive 5% earning 500K. CGM used the 10 million and earned 3.1 million.

Another positive is that CGM management have not gone to the market for a capital raising. Most companies are putting out there hand constantly but CGM are refraining and funding there exploration through revenue.

.0077 cents per share earnings 2010/2011. Conservative P.E of 10. CGM should be at a minimum 7.7 cents not including any upside with exploration success.