I think my last take on GFA is that from October, 2010 til last summer, the company lost 90% of its capitalization. This is what happened to many of the builders in the US: KBH, PHM, HOV, BZH etc. In the process of destruction of capital, the worst possible outcome is inflicted/predicted on the shares. When that doesn't happen, a rapid snapback ensues, then a reconsideration of the snapback (like now), then a long drawn out process begins in which the bears continually point out everything that's wrong with the company and why a person should not own the shares. Meanwhile, the shares rise. At least, that's the hope.