I'm curious - cash reserve has increased by $40mil over the last year so it is difficult to say they are not making profits. I mean a bank balance is a bank balance and it's hard to fudge the figures there.
Not being rude - but does your lunch partner have a slanted view of GRR as he owns and pushes, as part of his job, other I/O producers? Also, with Southdown, which companies have looked at the project and where are their reports?
Seriously, GRR will not sink or swim with a few poxy apartments that they are off-loading anyway. $15mil investment so breaking even or losing a million bucks is immaterial.
GRR Price at posting:
26.0¢ Sentiment: Buy Disclosure: Held
(20min delay)