Reckon this GBA beauty is still chronically undervalued BUT Do Your Own Research
What if GBA sold it's shares in MMR, MMRO, & BPH at current market prices. 9,747,362 MMR $0.34 $3,314,103 7,310,522 MMRO $0.18 $1,315,894 6,778,200 BPH $0.07 $474,474 Get around $5,104,471 (or say 18 cents per GBA share)
What if GBA were to get 50 cents per share (the current pre IPO capital raising price for Advent Energy shares) for the 9,500,000 Advent Energy shares that GBA owns. Get another $4,750,000 (or say 17 cents per GBA share)
Other "assets" GBA has to consider a) 6,778,200 Molecular Discovery Systems shares (potentially an ASX listing at say 20 cents per Molecular Discovery Share - if so then $1,356K) b) $205K at bank 31 December 2009 c) $855K as per another Hotcopper posting - being fees from underwriting of the first round of BPH offer d) $270K ball park "future income tax benefit" being the 30% in $1 of the approx ($900K) accumulated earninings as per 30 June 2009 annual report The total of these (a) (b) (c) (d) conceivably another $2,686,000 (or say 9 cents per GBA share)
In summary 18 cents per share in investments in ASX - MMR, MMRO & BPH 17 cents per share in investments in Advent Energy 9 cents per share in other assets 44 cents per share total
If currently trading at 15 cents per share BUT as per above potentially 44 cents per share then guees you don't have to be Warren Buffet to figure out what should happen to the share price.
GBA Price at posting:
15.0¢ Sentiment: LT Buy Disclosure: Held
