How ironic that the worst performing ASX 200 stock got more than...

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sensible123

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29/06/19

13:38

Post #: 39300944
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Originally posted by sensible123: ↑

GXY is the worst performing stock in ASX200.
The worst performing stock haven't got $300 m in debt but more than $300 m cash in the bank collecting dust
The fundamental hasn't change for the company -
1) After big misstep, crown jewel SDV is in limbo atm but will proceed the big way within 6 months with or without a partners.
2) James Bay waiting for environmental approval possibly 12 months away
3) MC - still in production and making margin at current price; YOP up and running, production and quality improvement on the card
4) 12% strategic stake in LPD and A40 as long term play with no cash burn.

So why went wrong with GXY, I think is called
MISMANAGEMENT and POOR JUDGEMENT of those in charge, the $ is in the bank collecting dust, no clear strategy, no actions or initiatives implemented to increase or protect shareholders value. (Shares buyback was mentioned many times but NO ACTION , won't earn the worst ASX if buy back was in placed)

Our peer, PLS couple hundreds of million in debt at 10% interest rate performed better than GXY --- GO FIGURE.

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How ironic that the worst performing ASX 200 stock got more than $300 m in the bank.
Reflect badly on the BOD mismanagement and judgement.
Hope the new captain can steer this ship around quickly, has been rudderless for a while.

GXY Price at posting: $1.23 Sentiment: Hold Disclosure: Held
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