Pick a Bottom, page-34

I still own the stock, I got in at an average of 49 cents. Though I don't have a lot of confidence in the board or management to turn things around in the short to medium term. Their credibility is shot to pieces and will not change until they start showing profitable margins. Hopefully if they can generate a large amount of their business from South America where cattle prices would be more competitive than the local market then it is worth a punt which I am willing to take.

The trading profit may come in at the lower end of guidance and may well be even lower. My opinion is the company will announce a loss for FY2016 after abnormals and listing costs.

These are articles worth reading:-


http://www.theaustralian.com.au/bus...d/news-story/fdf116e059c9edb79e431f99536a7029

https://au.news.yahoo.com/thewest/wa/a/31856454/comment-wellard-an-embarrassing-mess/