GGG has usually hovered 20-50% above book value prior to this stage of its development for quite a few years now. I would have expect an increase to that (40-70% or 10-13 cents) given where its at now and I cant help but feel it a fair sp base to be considered given its historical performance.
We have a BV of 6.7 cents now. So we are at 20% BELOW BV.
Id be more inclined to suggest between 7-10 cents would be a fairer range given its late stage of development to cut it in the middle as this far under BV is odd for the sp..
I think the market is still going through a phase of adjusting to a turn around after the ill effects of Global X getting out. We are perhaps just seeing bounces off a solid floor.
Time will tell I guess.
Ann: Engineering Studies Completed, page-12
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2.2¢ |
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| Open | High | Low | Value | Volume |
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