agm report, page-8

Deardphil, i apologise for being so negative.Its relatively easy to understand why A lot of companies that have a large fall in their Shareprice will rebound.------------Fundamentals are good, management is good, Didn't make as much profit as they forcast but made a load anyway.Solid contracts delayed,Cyclical etc etc etc.
Repcol gives us no information why it crashed.Its going to lose a swag of money this year but next will be better because they will save by closing the Brisbane office.They just bought a new debt contract but at what price and they mentioned one of the previous debt contracts wasn't a winner.There was no detail what went so horribly wrong and what is the plan of attack, besides pulling out of the country to improve the situation.
Also, what is the value of the company at the moment.Then how much is that per share. Could be a lot less than 14/15c a share.Just because it hit 60c a month ago doesn't mean its cheap now.
One company that had a huge SP fall recently was PCH access $1 back to 54c.A great buy.A solid company with full disclosure that is having a slow six month period.Don't just buy any company that has a fall in its share Price no matter how drastic.
Repcol is a Punt.Day traders may play with it soon.I am sure somebody pushed it to 60c recently with no news for no reason.Could be a worthwhile bet but betting isn,t my thing.
Repcol should be doing well but it isn't.Thats the worry.
RAB