I notice Hartley's have a speculative buy on this stock with a price target of 51cents. Which looks reasonable compared with net tangible asset backing of 46cents per share(reported).
They do carry a bit of debt but with the final investment decision (FID)for the largest engineering project in Australia's history (Gorgon Gas Project) due in the second half, leveraged exposure could very quickly become a good thing.
Considering the runs of other Gorgon-construction exposed companies NMS MRM and CLO, its not hard to see how momentum will fall in behind VMG at the first sign of a break out.
It appears the upside justifies the risk.
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Mkt cap ! $6.927M | |||
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| VMG (ASX) Chart |
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