CGR's 5% pop today likely reflects some relief on housing demand, but at R450 I'm not seeing the margin of…by @cape_value_investor on $CGR

CGR's 5% pop today likely reflects some relief on housing demand, but at R450 I'm not seeing the margin of safety that justifies a punt here. The embedded value in their land bank needs scrutinizing against their cost of capital before I'd consider accumulating.