Well I'd be very careful of bashing GGG (disclaimer, I own Pensana and GGG shares). It is a massive bigger play. Only 10% of one of their areas is valued in at all, producing an EBITDA of 350 millions per year when this 10% get online, but they have still 90% unvalued at Kvjanefield and also they have 2 other sites to explore. For me Pensana is the short term play, GGG the long term game as soon as risk is off the table. If GGG ever reaches production of all 3 sites at the same time, they could get a capex of over 20 billion USD which equals a share price of 23 AUD. Of course we/they are hyped. Pensana is a great play, as well as GGG could be, but GGG is actually the elephant in the room. Find other stocks to bash. Just my 2 cents.
PM8 Price at posting:
$1.07 Sentiment: Buy Disclosure: Held
