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?
Ann: Quarterly Activities and Cash Flow Report, page-212
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Last
16.5¢ |
Change
-0.005(2.94%) |
Mkt cap ! $120.2M | |||
| Open | High | Low | Value | Volume |
| 17.0¢ | 17.5¢ | 16.3¢ | $759.7K | 4.550M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 30 | 1414432 | 16.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 16.5¢ | 1080 | 1 |
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| Last trade - 16.10pm 04/11/2024 (20 minute delay) ? |
| GLN (ASX) Chart |