MGX (300M cap, 420M cash), GRR(130M cap, 150M cash), SBB (10M cap, 30M cash), are actually operationally cashflow positive (i.e. ADDING millions per year to that cash pile and YET still trading under cash backing). And then we got the O&G companies that have been heavily punished, like CVN(trading just over cash), KAR (327M cap, 480M cash),MPO(30M cap, 67M cash). These are just off the top of my head, there are at least 20 times more ASX listed companies trading at a large discount to cash/liquidation value.
And people here still think that a business burning millions a month and getting minimal revenue in return cant possibly trade under cash backing? Im not saying 1PG WILL trade under cash, just that it, like 100s of other ASX companies CAN trade under cash backing. Once investor sentiment turns drastically and faith is lost in a company/sector, theres nothing stopping even a profitable company from trading under cash.
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