Cripes, that's as crazy as BRM was a few months ago.With a mkt cap of $44m (145@30.5c) and $30m in cash
a 126Mt's@58%Fe JORCand upside target of 470Mts@58%Fe I think GWR is a no brainer takeover target
I think it is just a matter of time before Portman pull the trigger
When and how much is another question, will be interesting to see if GWR lasts at these levels for say another 6-12months
Whole bunch of charts looking like this. All giant slippery dips. Just wonder how high the end of the slide goes?About to attempt a break out at 40c?
Interesting looking chart, one of those ascending triangles ain't it Kenna? with higher lows but top resistance line at 40c???
Wonder if its sentiment or news driven
GWR seems to have had no real recover whilst the reast of the market has been strongly coming back online.. There is alot of potential here if there is a resource upgrade .. Moved into this today .. Fingers crossed there is not a cap raising tomorrow !
I agree there's a lot of potential, but this is even beyond my investment horizon...
They seem to be burning cash like crazy (see last few quarterly). At this rate I think you are right about another cap raise. Good thing the last one was done at such a high price though. Management owns little stake which gave me no confidence. The port will be constructed as early as in 2014 (optimistic case, see the official port document). Trucking distance to the Esperance rail is about 300km (add another $30ish to transportation cost). Therefore IMHO shipping is not likely to happen before 2014.
So yeah, best case scenario is it gets taken over, but with 3 cornerstone shareholders I doubt that is going to happen?
all true.. but I think with a resource upgrade the markets attention will be again focused and there will be some substanial movement.. There is little in the way of resource stocks which have remained at 08 lows..
Anyone have any idea how they could have spent $2.3m on administration last quarter? Must be some damn fine stationary they're handling over there in Wiluna.
Maybe it was the directors salaries that combined come to about $450k pa each.
Isn't this an explorer? Hooly dooly!!
Their rem should be in performance options not cash!
Hmmmmmm
Precisely why I haven't gotten into this company...
The nearest rail at present is probably the one that Portman is using. Distance is about 300km or so. I think that kind of trucking distance is gonna erode most of the margin (if any left). The new port is the best bet but I am uncomfortable with the cash burning.
Now trading at 26c a ton for it's DSO.
The average on my list is $8.40 including the producers.
Pretty attractive as a take over target.. cash burn wont inhibit this
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