The reason for the downward SP is they did $17.4m contract work for Upstream Production Solutions with TOGA [TIMOR SEA OIL & GAS AUSTRALIA PTY LTD] which entered voluntary admin on 20th sep2019. So will they get paid much of that? Will it affect profits? However, $17.4m divided by the share issue of 153.62m = $0.11 per share. So 11 cents per share of revenue might go. This may lose a few cents of profit? I don't think it will be too bad. Given that the SP has come down more than 20 cents, I feel it is safe to start accumulating. SP may still go down more. How much I don't know. Long term I feel this company is okay.Hey you made a good call, my friend.
Share Price Discussion, page-26
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Len
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Last
$1.77 |
Change
0.010(0.57%) |
Mkt cap ! $295.6M | |||
| Open | High | Low | Value | Volume |
| $1.76 | $1.78 | $1.74 | $172.6K | 97.91K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 8757 | $1.77 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.78 | 8928 | 2 |
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| Last trade - 16.10pm 18/09/2024 (20 minute delay) ? |
| GNG (ASX) Chart |