I have been following this stock for years and never has it been a better buying opportunity. New board members with ample experience from the manufacturing and industrial sector will bring a lot of strengths and contacts. If I can remember correctly, Elph bought the stock at 0.26c. The share has been in a trading range between 0.190 and 0.230 or so over the last weeks. The major shareholders appear also to be financially strong (cannot really check as it is a private company). They have announced the review of the operation and key executive positions. Sure, it looks like Coote will report a major loss from operation and other write downs end of this month but wasnt that really expected? In my personal view, Elph will ensure to make money out of this deal along with us other shareholders.
I look forward to see what changes will be made. With a turnaround in the global and the Australian economy, along with increased investment in such as rail (good for Gemco who offer a comprehensive service) I cant see this fail with the possibility for us shareholders to make 5 times the money, long terms, on current levels with a short term profit opportunity up to 0.26c.
This is my opinion only so do your own research.
Any comments anyone?
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