PWU once again you hit the nail on the head GPG is like a dog with a bone and remembers what the bone cost and will only give up its chosen bones if you offer it a sack full of new ones. I have vague memories of it having held a resource/energy stock? for over 10 yrs? with it doing nothing and cashing out on a $15m investment for around $400m. They just do what they do.That probably includes buying debt at 65c/$ plus capital gain on any pro-rata repayment and reaping a easy 12-14% effective return on a company they effectively influence if not control? Essentually they buy value dirt cheap and sit and wait for those who are impatient to own it to do so. Imagine the returns when Alinta returns to any index,i suspect that will be GPG's outer.If it takes 10 yrs,what a wonderful profitable ride it will be for any debt holders at 65c/$. More importantly for us shareholders when it re-enters an index.So what if no divvys for 3-5yrs or longer. 10yrs suits my horizon too-sorry daytraders-i'm not one of you.
AEJ Price at posting:
5.2¢ Sentiment: Buy Disclosure: Held
