Surely Sunland must be a mid-long term buy at these prices?
I thought this was incredible value at $0.41! Now its trading at a 25% discount of that price.
I expect SDG is one company that us perfectly placed with cash and low debt to ride out the financial crisis and perhaps pick up some firesale assets and further expand their portfolio as highly geared companies crash and burn around them.
I'm slightly concerned about their exposure to Dubai but OPEC look set to raise oil prices again soon; can't see things getting worse.
Obviously the share price reflected speculation one of Sunland's directors was arrested in Dubai but - providing we can believe the company's statement - this was unfounded. Which would mean the share price has been vastly undersold.
To me this seems like an obvious buy. What am I missing? Considering adding this to my self managed super.
SDG Price at posting:
31.5¢ Sentiment: Buy Disclosure: Held
