Got moderated and said I had to re-post with supporting evidence. So here it is..reposting
"If WA hard rock sentiment is good, how do you explain current SP of AJM, PLS or GXY?"
Only because it was brought up here...but i see all of them to be reflective of poor management.
- AJM currently in debt of $180mil ; 4x of A40's debt load? Hmm...lucky they have some decent grades they seem to be surviving but also living on alot of cap raises. Capital raising of circa $60mil since January 2019; made up of $24mil in 12/02/19; $14mil in 21/03/19; and $22mil in 7/8/19. Not wrong to say they are living on borrowed capital and time?
- PLS - now going into reduced production according to their June Quarter activity report.
- GXY - sp probably affected by upcoming non-cash impairments of USD$150mil to USD$185mil - ie: asset writedowns. Best move was selling 50% of their Argentine brine project for $280mil. As they say: "You only get one Alan Bond in your lifetime"
