Indeed not well capitalised so a capital ratio above 70% is going to fluctuate wildly. I wasn't as concerned by this since it is trying to grow and small items like an office fit-out will alter the numbers significantly and the lower share price provided an entry opportunity for me. While it does seem like it will be 3-4 years before FCF, I feel the impending pricing review will address most shareholder concerns and that will be the catalyst for $2+ SP. I still like TYR for my long-term portfolio. In years to come, we will be able to sit back and enjoy the Pina Coladas that the dividends will pay us. Sometimes you have got to take a risk. Yes, there is a chance this will be sub 85c but it just depends on other thoughts shorter term. Shorter term, I think the shareprice could build in late June to July prior to the half year accounts or it may take investors to wait for the results and then punish or reward those results immediately after. The risk seems concentrated in those next results. You can look to the economy and spending numbers until then and I feel they are good (inflation, cash handouts, businesses looking for better merchant deals, business finance to keep operating).
TYR Price at posting:
$1.20 Sentiment: Hold Disclosure: Held
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