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?
It's a fact that the management screwed up on financing and they...
Add GLN (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
15.0¢ |
Change
-0.005(3.23%) |
Mkt cap ! $109.2M | |||
| Open | High | Low | Value | Volume |
| 15.5¢ | 16.0¢ | 14.8¢ | $1.036M | 6.706M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 350997 | 15.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 15.5¢ | 510000 | 7 |
View Market Depth
| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| GLN (ASX) Chart |