I agree but as I'm almost 70% down on my average purchase price fair to say I'll not see a gain on my holdings for many a year if at all Long-term I suspect it will be a net gain if I decide to hold long enough, it's just too underpriced here to sell IMO, if it tripled in short order (possible in 12-18 months) I'd likely take the chance to offload. This one was a really good example of me being way too impatient, bought in early, averaged down too early and too hard, poor execution on my part, I'm very used to buying in with such poor timing but usually end up well in front over the long haul, this has been one of my most painful to date.
John King is the right CEO and I think after the last few sets of results we've got a suitable balance sheet to transform the business sufficiently. We're getting there, results mentioned getting an updated banking facility, if that happens over the next few weeks I would expect a nice little kick up in price, possibly even an announcement of some sort, I would be hoping small buyback, enough to let the market know the corner has been turned.
The banking facility interest rate should easily be able to be 30% lower than the last one, maybe more, we now have a much better balance sheet and interest rates have dropped 3 times in Aus, may be a chance to raise debt slightly but at a lower cost.
MYR Price at posting:
27.0¢ Sentiment: Hold Disclosure: Held
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