What are your thoughts on GNG and XRF?
Hi guys your thoughts on two companies im interested in gng and xrf Thanks Tony
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Answer
Hi Tony,
Two stocks which we’ve considered separately:
GR Engineering Services (GNG) is a mining services contractor that focusses on chemical processing as well as feasibility study works (drilling and mine design plans) with exposure to gold and oil & gas projects. They have been winning a number of contracts and have a strong order book, but in our view there is no compelling value in the price here. We would consider GNG around 10% lower.
XRF Scientific Ltd (XRF) makes equipment used in the testing of chemicals an commodities used by mining and laboratory testing companies. It is an interesting business that has found some support after falling on a weak result in August. For no though, we are neutral XRF seeing no near term catalyst for the company to break the ranges it has been stuck in for the last ~5 months.
