TZL 0.00% 7.5¢ tz limited

research report, page-6

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    Under the radar update this morning :
    - some good growth over last 12 months but SP has gone nowhere down from 17c a year ago, so stock does not look as expensive as it did 12 months ago
    - business model tends to chew cash
    - Parcel locker growth impressive
    - Unusual that Chairman does not have a material personal shareholding
    - Rate as Spec Buy for small position
 
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