It's hard to see why this stock is so weak. House building is now the strongest it has been in years and this company does not have to stay concentrated on the mining industry where it has been in the past.
Nomad's value figures are outstanding. It has net cash of $6.43 million, net tangible assets of 7.1c and it claimed an underlying profit of $936,000 in the first half. It also has tax losses of $9.6m which makes future profits tax free for some time. The share price proved very weak over the last financial year and it would have been very prone to tax loss selling over the last few months but that is over now.
On the negative side, it has been a very unimpressive board in recent years with many changes.
I am the buyer on top at 4.7c right now. I don't really need to be there because I do have a large holding but I can't see why it won't turn around and recover.
GPASAS
Add to My Watchlist
What is My Watchlist?