Honestly, few factors:
1) Iron ore price remains on a steady uptrend - GRR as well as other iron ore miners would have better profitability in the next QTR.
2) GRR has a net asset position of $951m, with $400m+ liquid assets and very minimal $60m liabilities payable. Why is the market capital valuation only around $490m range?
3) If this a high risk investment why would GRR be in the business for so long and whilst remained profitable?
4) You are expecting the price to drop further - That is clearly a bearish sentiment, nothing wrong but just to state it as you mentioned you aren't bearish on GRR.
Iron ore pricd, page-32
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24.5¢ |
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Mkt cap ! $283.5M | |||
| Open | High | Low | Value | Volume |
| 24.0¢ | 25.5¢ | 24.0¢ | $243.1K | 984.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 86499 | 24.5¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 25.0¢ | 66870 | 4 |
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