Welcome!
Solid work mate—this is one of the more grounded, thoughtful takes I’ve seen on GCM’s potential. The $12B heat sink market size checks out, and your assumption that just 12 clients could drive $25–$40M in revenue by FY27 is actually pretty conservative, especially if even one turns into a major buyer like a hyperscaler or industrial. The 85% gross margin feels a bit optimistic at first glance, but given this is high-spec engineered graphite with tight control over processing, it’s plausible—particularly in early-phase premium contracts. OPEX at $12–14M sounds about right too if they stay lean.
Your NPAT and free cash flow logic is sound, and projecting a $420M–$540M market cap off $10.5M NPAT or ~15x revenue multiple makes sense in this stage of commercial breakout. That 21–27c SP by late 2026 doesn’t feel like fantasy—especially not when you’ve baked in future dilution with a 2B SOI estimate. The raise just done gets them through to commercialisation without needing to go back to market, which is rare and a massive de-risking factor. If they lock in a few contracts and the product performs as expected, this won’t be one of those “maybe” stories—it’ll just be about scale and delivery. Great DD.
- Forums
- ASX - By Stock
- Ann: $7M Institutional Placement to Advance VHD to First Revenue
GCM
green critical minerals limited
Add to My Watchlist
2.78%
!
1.9¢

Welcome!Solid work mate—this is one of the more grounded,...
Featured News
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
|
|||||
Last
1.9¢ |
Change
0.001(2.78%) |
Mkt cap ! $45.40M |
Open | High | Low | Value | Volume |
1.8¢ | 1.9¢ | 1.8¢ | $5.542K | 304.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
6 | 3388688 | 1.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.9¢ | 4561885 | 12 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
6 | 3388688 | 0.018 |
10 | 4294095 | 0.017 |
20 | 13670103 | 0.016 |
27 | 12491482 | 0.015 |
12 | 8609534 | 0.014 |
Price($) | Vol. | No. |
---|---|---|
0.019 | 4561885 | 12 |
0.020 | 2922366 | 10 |
0.021 | 4461666 | 10 |
0.022 | 3876662 | 11 |
0.023 | 2496831 | 8 |
Last trade - 11.26am 16/06/2025 (20 minute delay) ? |
Featured News
GCM (ASX) Chart |