GGE 0.00% 0.6¢ grand gulf energy limited

How is it that GGE are making close to $6,000,000 profit P.A,...

  1. 347 Posts.
    How is it that GGE are making close to $6,000,000 profit P.A, have total shares on offer around 700M and have a better than good chance of increasing this revenue in the next 12 months, but still the SP sits at 0.012.
    Got me stuffed, if they just let the cash pile up in the bank for the next 2 years and did nothing else even then surly this would attract interest. Compared to the GGE of 12 months ago this has been significantly derisked I'd say..
    Here sits not just an oil explorer but a producer with a MC of 8.4 million and Annual earnings close to 6M, at a glance you'd have to say that their will possibly never be a CR.. A 0.012 oil co self funding their exploration, production and admin costs.. find me another company below 2 cents doing this with 700m on issue.
    They should fork out 50k a month on their own stock.

    not sure how a co that is making almost 6M a year can only be valued at 8.4M? unless the wells are set to run dry in 12 months, but I dont believe thats the case.
 
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