GNX 2.38% 21.5¢ genex power limited

Sept Quarter, page-9

  1. 595 Posts.
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    There is a lot to like about this project. The economics are pretty good too - key concerns - we're heading into wet season and that will slow down construction. Having said that, the company has shown it knows how to build in remote locations. The price:book ratio is significantly higher than one would prefer, and the company's management is a little top heavy. 8 people on the board? that's $10 million market cap per director!

    But - even though we're near resistance, I've decided to enter for a small parcel today. I will accumulate with fresh cash into the dips and hold for a few years and see how we go.
 
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