The total journey of RFG reminds me vividly of my investment in Futuris Corp, over years ago. The boom, the bust, the lack of focus and then the re-alignment to its core business. (FWIW FCL is now known as Elders Ltd).
Long story short, this stock and a 30 year time horizon buying the lows and lightening in the ups, ended up being a 70x investment and certainly tranformed a humble $20k investment into well over $1. I ended up leaving that party once the SP breached $12, a few years ago now. Naturally, my circumstance now permit me to take some calculated punts, all with free carry, just for fun since the monetary outcome is a little irrelevant.
RFG have screwed up big time, but have still survived and have now cleaned up their Balance Sheet and cash flow. Backsides burnt, lessons learned - you would think.
With the institutional backers now on board who paid over 8c, I am happy to top up with decent lines below 7c - and wait to see what happens.
I too am not a big fan of the new name, but ultimately it is food in bellies that will determine whether this company sinks or swims. IMO the upside is HUGE.
GLTASH
RFG Price at posting:
6.9¢ Sentiment: Buy Disclosure: Held
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