I think the positives raised on HC with this stock still apply.
Have been watching this one for quite a while and found the slip to mid 50c too hard to resist.
After my first instinctive buy have since accumulated some more and think that CND represents an excellent play.
Slippage under 60c has been on very low volume (tax loss selling?) and the buyer depth has improved considerably while desperate sellers may be exhausted (only 96K shares listed under 70c).
Company basically has nil debt, has stripped out costs and is very leveraged to continuing growth in exployment. Results for YE 30/6/10 wont be stellar and I don't get a strong sense as to expectations here. If a positive outlook is expressed by management then all systems will be go.
The macro environment with strong employment is certainly increasingly supportive.
Finally I love the share register action over the last 3 to 6 months:
30/6 Perpetual up 1% 24/5 Paradice up 1.85% 26/3 Geoff Moles bought 1600000 @ 0.67 25/3 Paradice initial sub shareholder notice 26/2 to 1/3 another 100000 Geoff Moles interest @ 66.2 to 69.3
DYOR
Cheers
CND Price at posting:
60.0¢ Sentiment: LT Buy Disclosure: Not Held
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