The NTA will likely be approx $0.30 cents come 30 June 2011. My opinion only.
The sell off is purely NAB or other large shareholders offloading pre 30 June 2011.
What really has changed since the last company update?
Ireland today released their highest increase in GDP in 3 years, which must help, given that was a key market.
The Greeks are likely to seal a deal re their debt, so could spurr on the markets.
The USA govt is reducing spending, and the Aust dollar expected to decrease which will help financial translation of results.
The sooner we can put 2011 fin yr behind us the better. 12 cents does not really reflect this companys potential. I purchased at 17 cents thinking it would bounce, but clearly fundermentals are out the window and some shareholders are wanting to take a hit before 30 June to get their cap loss.
The interest cover on this share is fine, the debt is under control, bankers have extended to 2013 and company is solvent as mentioned by directors.
This company has had a massive downward trend. I suspect once we have a couple of green days this share will recover (quickly).
Add to My Watchlist
What is My Watchlist?