im out now, got my entry wrong buying a lot higher than the current sp, took loss yesterday @ 25.5c as i thought in the short term there may be some more downside.
not saying i think the company is cactus however. everything i have seen shows that the company is still in a positive cash position. their half yearsly showed red ink but most of that was non cash right downs. npat is still positive and for a company this cheap id say the p/e is around 1 or 2?
if they directed all their NPAT into their debt for 2 years its possible their debt could be back to far more sustainable levels. they are also expecting better trading conditions in FY 2012.
im still interested but watching carefully for the right entry this time.
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