GMD 0.00% $2.17 genesis minerals limited

Ann: On track - Corporate Presentation, page-2

  1. 11,804 Posts.
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    I know RF deserves a premium, but.... at what point does the premium not make sense?
    E/V of $1.1b for a company that will initially only be producing 150k p.a at high costs (Gwalia is very high cost!).
    DCNs mill will be fed from Tower Hill... in potentially 2-3 years time. So GMD will not be a 300k p.a producer until perhaps 2026.
    All the while, a large amount of capex will need to be spend developing GMD U/G (which.... they still don't have a reserve on), and Tower Hill.

    https://hotcopper.com.au/data/attachments/5311/5311357-185aa3d1db591ec70051f1bd3196d739.jpg
    I struggle to see the upside to GMD over the next 2 years, but of.... the market must view things differently?

    They are undoubtedly going about it the right way, but.... it is going to take a lot of time and money to turn things around.
    Yet GMD is already trading higher than most of its peers for the same production profile.

    https://hotcopper.com.au/data/attachments/5311/5311376-0c6670e18bc11e93739fa8b995d1c88d.jpg
    Good luck to holders, but I think the biggest returns have already been made on GMD in the near term (obviously not a popular view on these threads!).
 
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