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Jehosephat

2,728 Posts.

377

29/06/19

22:03

Post #: 39304367
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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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Au contraire, @sensible123, there's certainly a strategy but it will play out over the next five years, not the next five weeks. The board is playing it cool and so should shareholders.

GXY Price at posting: $1.23 Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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