The rail lines through Maitland (NSW), junction for the North Coast and (relevant to NAM) northwest NSW tracks, reopened fully this week after 12 days of no trains due to severe (though far from unprecedented) flooding.
This meant the 'cotton train' with its large load of containers couldn't operate for almost two weeks.
I assume that has costs for NAM, both direct and indirect. Let's hope the company was able to find space on outbound container ships if its output couldn't get to Port Botany in time for the original bookings.
I am considering purchasing some NAM but the recent election of a Federal Labor government, and likely election in March 2023 of a Labor one in NSW to complete a clean sweep of mainland Australia may be a concern as Labor and its mates the Greens do not like cotton farming's alleged environmental adverse effects.
Low liquidity in the stock is also a flagged issue for me.
Recent Flooding & Impact on Namoi Cotton, page-12
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Last
77.5¢ |
Change
-0.005(0.64%) |
Mkt cap ! $160.5M | |||
| Open | High | Low | Value | Volume |
| 78.0¢ | 78.0¢ | 77.5¢ | $13.69K | 17.61K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 88995876 | 77.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 78.0¢ | 33274 | 1 |
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| Last trade - 15.56pm 15/10/2024 (20 minute delay) ? |
| NAM (ASX) Chart |