Peer comparison -- De Grey Mining (ASX DEG)12 Dec 2023 23:16
For me I still compare GGPs market capitalisation with De Grey's current market cap. (Note to Neobody, DEG has never had revenue either you moron.)
De Grey is still in the exploration stage of their lifecycle and a date for first revenue is currently unknown. I think they are hoping that a major gold company will come and buy them out. You can look on their website if you want to know more https://degreymining.com.au/
DEG had a capital raise a few months and that has not stopped the share price and market cap which fluctuates between AUD$2billion and AUD$2.5billion. If GGP can attain a similar market cap range that would be £1billion (ie. 20pence a share) to £1.3billion (ie. 25pence a share). This is why I feel that 20p to 25p has to be GGPs target share price range for 2024.
In Australia they have a podcast "The Call" which discusses Australian listed stocks every week day. I recommend you subscribe in case they discuss ASX gold stock peers etc.
On The Call's 12th December episode they discussed De Grey. Weblinks below. This is not the first time DEG has been discussed as it was debated a month or so ago. Two speakers on the 12th December episode debated De Grey from 35th minute.
Despite the current market cap one speaker labels DEG a buy, and she seems to know the gold market a bit more than the other speaker who is more reserved and prefers to wait for operations, cashflows, profits. Previous episodes discussing DEG have had those that suggest it is a buy and others sitting on the fence.
So I still firmly believe that once the final feasibility study for Havieron is released plus the decision to mine made, both will act as positive catalysts for the share price, both are major milestones and significant derisking events. If GGP can also be ASX listed at the time of market release I then hope it meets the requirements for investment funds to invest into GGP.
Note, the reason Wyloo has already invested is because it is a private investment vehicle. Whereas many publicly listed investment vehicles like managed funds / pension funds in Australia have investment mandates and rules to follow on what they can invest in, which I doubt includes speculative plays.
GGPs very experienced Board are all after the same as what we want..... a huge payday!! They (and Wyloo) have their share warrants/options which will have significant profit once the share price hits 20p and beyond. This is shareholder alignment. These are my thoughts and reasons that I see GGP worth more than 10p a share.
https://podcasts.apple.com/au/podcast/the-call-tuesday-12-december/id1506523664?i=1000638257588
https://ausbiz.com.au/media/the-call-tuesday-12th-december?videoId=33610
https://open.spotify.com/episode/0zyLiNTEDKcBGrmet6BttQ