I don't normally take broker research seriously but a) Galantas (GAL) operates in Ulster so I am biased in its favour and b) analyst Roger Bade at Whitman Howard is no fool. He reckons Galantas at 6p is worth 17.3p per share. The market cap today is £12 million but Bade explains why by 2020 the company could be generating £8 million of cashflow and by 2023 that could be £13 million and that is on uber-cautious gold price assumptions. The note (below) is very much worth a read.
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