While a net loss of $67.5m for the FY2012 looks scary, my reading is that most of it is in non-cash changes to values of cotton futures contracts? FY operating cashflow of $139.1m went towards a significant reduction of borrowings. Combined with the $75m of revaluation of property, plant and equipment taken to reserves, equity up $8m for the year, giving strong NTA backing of $1.12/share.
With financing facilities now rolled over for a further year and a record crop well in hand, the goal of reducing debt by a further $60m this year looks achievable, which would put NAM back into health.
While they are looking for a cornerstone shareholder by Jan 2013, the current market cap of $21m looks light - although admittedly I don't understand the cotton markets well enough to recognise possible threats. Cotton futures not looking so great.
Looks reasonably well bid and a few small buyers prepared to cross the spread - not bad considering the current soggy market.
Would prefer to wait until dilution had occurred, but took a small holding earlier this week. Interested in any thoughts?
- Forums
- ASX - By Stock
- Ann: Namoi Cotton Market Update
While a net loss of $67.5m for the FY2012 looks scary, my...
-
- There are more pages in this discussion • 3 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add NAM (ASX) to my watchlist
(20min delay)
|
|||||
Last
65.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $133.4M |
Open | High | Low | Value | Volume |
65.5¢ | 65.5¢ | 65.0¢ | $278.5K | 428.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 54468 | 65.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
66.5¢ | 7650 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 54468 | 0.650 |
3 | 117626 | 0.645 |
1 | 25000 | 0.630 |
2 | 101000 | 0.600 |
1 | 777 | 0.580 |
Price($) | Vol. | No. |
---|---|---|
0.665 | 7650 | 1 |
0.670 | 1494 | 1 |
0.680 | 26348 | 2 |
0.685 | 10000 | 1 |
0.690 | 123369 | 1 |
Last trade - 10.53am 12/07/2024 (20 minute delay) ? |
Featured News
NAM (ASX) Chart |