Anybody else of the opinion that the sp is being propped up atm?...

Anybody else of the opinion that the sp is being propped up atm? I mean think about it. The only way the sp is going to go up is if there's a good number wanting to buy in. So, what's the incentive for anyone to buy in? The AUD0.005 divi? At 22.5c sp, the short term return is 2.2%. At 25c, it's 2%. Realistically, who is going to be braking their neck for that return. Even at 20c, the return is 2.5%. The AUD0.005 divi wasn't so bad last September when the sp was 11c, that was a short term return of 4.5%. It's a very different proposition at 22, 25 or even 20c, isn't it?

"But GRR's going to be making more money this year and paying a bigger divi," some are saying. Well yeah but you'll have to wait until end of September, and what guarantee is there that they will pay a bigger divi? I seriously thought this time around they had to be paying at least 2c, but no.

Now last Friday, I was of the opinion that there was no way this would get sold down even if they announced no dividend. But, the more I think about it, I can't see any different outcome but for GRR to be sold down. Honestly what's the catalyst for the sp to go up between now and the end of March? Maybe people might be inclined to buy GRR in the lead up to September with the promise/hope that a bigger dividend will come.

I suppose there is another possible catalyst. If the Board/Management announced plans of an acquisition or some other business growth, that could be a catalyst. But, who is confident that will happen? Might sound like I'm happy with the idea the sp is on the slide, I'm not. On one hand I'm of the strong belief that GRR should be valued at 40-50c p/s, and maybe if they had paid 2c or more, it would be. But, sadly I think its going to be under 20c, possibly back to cash backing 16-16.5c as Multi suggested earlier today. Hey, it is possible, don't forget GRR traded below cash backing for quite some time.

Just how I see it, and it's difficult to see it any other way atm.
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