Just another try to get some opinions on this from the gold followers out there. I entered yesterday at 29c which seems extra cheap.
My sums are 6.5m profit expected (as stated) div by around 80m shares on issue gives EPS for this year of about 8c......a PER of around 3.5 for a PRODUCER!!! Now considering production is ramping up and this could be expected to grow and they have tenements that warrant "aggressive" exploration has no-one woken up yet or am I misguided in my calculations. BTW I would be interested in hearing from anyone with a knowledge of the Minjar area as far as its potential for good discoveries.
Well............these figures are (given a much smaller scale) as good as you will find I reckon for a company with actual profits coming in...and producing at $237 an oz!!!!!!!!!! Combine that with a breakout on huge volume and there you have it........a stock worth buying.....or so I thought. Pretty uninspiring the last couple of days. Interesting to note that the volume on Tues and Wed was more than the whole of March and April!!!!!! Someone wants them bad but is there more to the story than what I've posted above??
GBG Price at posting:
0.0¢ Sentiment: None Disclosure: Held
