It will be interesting to read the annual results report. Last year, after the refinancing, GJT put forward a few illustrative valuations based on JPY-AUD rates and different NTAs.
I wonder what some of these numbers look like now, and whether valuations have held up since that report in September.
I have sense though that we won't see true value reflected in the share price anytime soon. In fact, I suspect there is a greater chance we will see GJT privatised...and that is when we will see some return on our investment. That being the case, it is likely we will be taken out cheaply...but still at a price significantly above where it sits right now.
I've been happy to hold these after the disasters of 2008 and accumulate a few more under 4c and I am happy to hang around until the GJT people take it private (just me speculating there, of course).. Who knows I may yet get out of this poorly timed investment (I initially bought in mid-08) with a nice profit by averaging down in recent months.
Good luck to holders.
Coop
GJT Price at posting:
$1.65 Sentiment: LT Buy Disclosure: Held
