I keep thinking about the below paragraph in the report. Still believe this is to be swallowed up before we see true SP appreciation as I am sure the goldies mentioned below will be doing the numbers as each announcement comes. Question is what will they be willing to pay?
Genesis remains an attractive bolt on asset
GMD trades on undemanding EV/Resource metrics of $42/oz vs its peer group at an average of >$63/oz.
We believe the current price reflects little to no value for the regional exploration potential at Ulysses and no value for the Barimaia asset. Barimaia’s large footprint and low-grade blanket of mineralisation could be a strategic target for nearby development plays such as RMS Mt Magnet operations. This is made more relevant given Mt Magnets short reserve life. Argonaut believes the current exploration success could see the Ulysses resource inventory increase >1Moz in CY19 which could be attractive to any one of the cashed up nearby operators which have spare mill capacity in their current operations such as SBM, SAR or Zijin (Paddington). Speculative BUY maintained and target price of $0.10ps.
Updated Research, page-2
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Last
$2.52 |
Change
0.090(3.70%) |
Mkt cap ! $2.392B | |||
| Open | High | Low | Value | Volume |
| $2.51 | $2.56 | $2.51 | $6.419M | 2.542M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 31792 | $2.51 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.53 | 26593 | 4 |
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| Last trade - 16.10pm 27/11/2024 (20 minute delay) ? |
| GMD (ASX) Chart |
