It's a fact that the management screwed up on financing and they are constantly running short of cash. But I'm a buyer at this level (IMHO, DYOR) simply because it's so bloody cheap at this price. Taking cues from LEL's announcement (which sold its Solaroz for USD22/ton LCE resources), simplistically if I apply USD40/ton to its LCE resources (hey, GLN does have better resources and more advanced in terms of permitting etc), GLN should at least fetch USD320m market cap in case of a fire sale. GLN doesn't have debt, no worry about claim against its core asset (the brine!) so worst case is we stop operation and do a fire sale. Did I make any sense?
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Last
14.5¢ |
Change
0.030(26.1%) |
Mkt cap ! $89.40M |
Open | High | Low | Value | Volume |
12.0¢ | 15.5¢ | 12.0¢ | $1.283M | 9.465M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
13 | 182777 | 14.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
15.0¢ | 173113 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
13 | 118597 | 0.145 |
10 | 609231 | 0.140 |
11 | 359074 | 0.135 |
8 | 343732 | 0.130 |
6 | 333271 | 0.125 |
Price($) | Vol. | No. |
---|---|---|
0.150 | 161712 | 5 |
0.155 | 717150 | 6 |
0.160 | 286629 | 7 |
0.165 | 232088 | 3 |
0.170 | 96000 | 4 |
Last trade - 14.58pm 07/10/2024 (20 minute delay) ? |
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GLN (ASX) Chart |