Yes we all know a fair bit having been invested in these guys for over 3 years. Read back through previous posts and announcements.
By my calculations GGEshould have around 2.5 mill plus in the bank, this morning the market cap was 4 million. That alone is crazy - there are shells trading on the ASX with no revenue or assets with market caps greater than ours.
So what makes GGE special? Well considering its a micro cap - GGE has plenty of reserves, producing assets and is profitable at current price of oil. Their admin costs are less than most and 60% of register is held by top 20. They haven't raised funds in over 4 years.
The catalyst is the yellowfin project, which is a gas play withy potential for trillions of cubic feet of gas - if this gets farmed out, or even sold to someone else I suspect our MC will easily be 10 to 20 times what it is today. When price of oil gets back to $70- $75 I would think we should get to 5-6 cps.
Based on the shape of the company today, to be trading at less than 3 c is a joke - making GGE a very strong buy.
Noof
GGE Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
