the facts: don't think of buying Punters need to take the time...

the facts: don't think of buying Punters need to take the time to read the recent ASX releases before jumping into GPE. The morgagee (Greentown) has control of 70mill shares, and seems keen to dump all of them as quickly as possible. By my count, Greentown has only been able to dump around 18mill shares so far, so still has 52mill to dump. If you think 1.5c is cheap, wait a few days. I think this stock could possibly drop to 0.001.

GPE has virtually no cash and is in debt. Its only tangible asset is a non-commercial size (5mw) biomass plant that is no longer operational (in fact it never really worked properly). I estimate that sale of the parts of this plant would raise around $1mill (at most). The company has zero chance of raising further funds from the market, and I'd be surprised if any banks are lining up to offer credit.

The company could be close to going into administration. If it does go into administration, this will be the second time GPE management have destroyed an ASX listed company.

So, given all of the above, it is hard to see how the brokers acting on bahalf of Greentown will be able to dump 70mill shares over the next few trading days without sending the share price considerably lower than it is already.