No it's not. The nature of business, please....... Where is it writ that you have to sell for any price as long as you're not trading insolvent?
Dude, the project - in the ground or otherwise - was worth a bankable $700M+ before they bought out Geca. That's a fact based on an actual, delineated resource and actual, delineated costs from an operating mine. This isn't some hypothetical project with risk like DML.
Yes, the balance sheet is stretched, but the loans are being repaid. Yes, it's slowed down phase 2. Yes, that knocks off some of the present value. But conversely, buying Geca added value and all told it doesn't mean the present value drops 12 fold and should be flicked in a firesale.
Sounds a lot like you bought low looking to take a quick buck to me......
TGS Price at posting:
5.6¢ Sentiment: Buy Disclosure: Held
