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.
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.
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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Last
$2.17 |
Change
0.050(2.36%) |
Mkt cap ! $2.434B |
Open | High | Low | Value | Volume |
$2.13 | $2.20 | $2.10 | $10.89M | 5.016M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 89570 | $2.16 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.18 | 122623 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 89570 | 2.160 |
3 | 33065 | 2.150 |
3 | 20602 | 2.140 |
2 | 9937 | 2.130 |
1 | 7602 | 2.120 |
Price($) | Vol. | No. |
---|---|---|
2.180 | 122623 | 5 |
2.190 | 55051 | 7 |
2.200 | 141104 | 12 |
2.210 | 11935 | 4 |
2.220 | 18587 | 4 |
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