The benefit that PGC has over say a CAJ is that it is coming off...

The benefit that PGC has over say a CAJ is that it is coming off a much lower valuation after the good run upwards. Where CAJ was trading on a forward PE of about 45 at its peak, PGC is trading at only around PE 11. Given the growth potential that PGC has, its current valuation, its forward dividend yield of about 4% fully franked at current SP I don't know what would drive the price down too far below where it is now. Might see the raise price but if it goes below that we are looking at a serious value proposition.