I like the announcement and what management is trying to do. Construction is always a risky game and you're only one bad job away from a big write-off but NOD was only heading one way before this announcement. Also unlocking the tax losses is an big added positive. I think there are tens of millions of dollars worth of them given the way the business has performed over the last few years. Bloomers has been around for 30 years and is highly regarded. Stepping back from it a bit as well, the new management and Board have done a good job impressing on Bloomer that they are better of as part of NOD rather than stand alone. Speculative but I like it a lot.
NOD Price at posting:
5.5¢ Sentiment: Buy Disclosure: Held
