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4.08%

25.5¢ grange resources limited.

Sell Southdown and distribute to shareholders IMHO

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11,181 Posts.

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18/04/17

11:41

Post #: 24111030
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Originally posted by imunro ↑

It has been five years since the initial feasibility study for the Southdown was published. At the time, GRR estimated $2.885B to develop the project. That could easily be $4-5B today.

GRR claims to still be 'seeking partners for a strategic share of the Company's interest in the project', but has failed to attract anyone in five years. With a share price that rarely exceeds cash backing and a current market cap of <$200MM, any attempt to raise equity would massively dilute existing investors. And despite the healthy cash balance, GRR would wreck their balance sheet by taking on debt to fund the project.

How can this minnow ever realistically implement the Southdown project? Has GRR ever considered selling the project in its entirety and returning the proceeds to shareholders?

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Sell Southdown and distribute to shareholders IMHO

GRR Price at posting: 16.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 25.5¢		Change 0.010(4.08%)		Mkt cap ! $266.1M

Open	High	Low	Value	Volume
24.5¢	25.5¢	24.5¢	$277.9K	1.118M

Buyers (Bids)

No.	Vol.	Price($)
1	8697	25.0¢

Sellers (Offers)

Price($)	Vol.	No.
25.5¢	300014	8

View Market Depth

No.	Vol.	Price($)
8	219779	0.270
9	458580	0.265
26	932290	0.260
7	172530	0.255
22	717920	0.250

Price($)	Vol.	No.
0.275	405759	8
0.280	942702	17
0.285	372332	13
0.290	1710676	31
0.295	651900	8

Last trade - 16.10pm 28/11/2024 (20 minute delay)

GRR (ASX) Chart