I can understand why people would be a buyer here, fair enough....

I can understand why people would be a buyer here, fair enough. There is more certainty, the balance sheet is less risky than a few years ago, and the reduced business appears to have stabilised somewhat and potentially laid the foundations for future growth. At $183m market cap though to me it's not cheap enough in comparison to its earnings and particularly considering its balance sheet. If you build in some very strong growth assumptions then perhaps there's an investment case.

I think the only shareholders that could be ahead on rfg are purchasers in the last 6 months out of its entire history. Several years ago when the price was $4+ I did put out some strong warnings on this one, but was shouted down by holders at the time. I'm closer to neutral on it now, perhaps slightly negative as I mentioned earlier.