The market cap is less than 10m and the stock is tightly held
The seller was in the screen as a seller at 3c pre open , with the next seller at 3.6 and 4.1
The announcment came out at 10 00 am and a new buyer took the stock at 3.1 bid .
It is now quite thin at 3.8 seller
The Gordon capital update out tonight is forecsting 50m revenue 2013/2014 at 12-15% ebit , and has a current economic value on the company at around 6c a share .
On the forward revenue in the report , in just 3 years time an ebit of 6-7.2m million was forecast A conservative PE for a grwoth stock is 12 -15 ie market cap 70-80m
Do your own numbers but that is a hell of an upside from the current market of $10m
I hold pgc and pgcoa
PGC Price at posting:
36.0¢ Sentiment: LT Buy Disclosure: Held
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