Big volume in Nomad today and I think I know the reason. The two McGrath internet sites are very active and just yesterday they posted details of a new massive joint venture with a company called Meadowbrooke Lifestyle Estate which gives them the opportunity to build up to 195 homes in Boyanup. They have also won a grant from the WA government company, Landcorp, to get a $50,000 building discount on their next two sales in Onslow. I think this information should have been announced through the ASX as it is appearing to be price sensitive today.
Here are the sites again:
http://www.mcgrathhomes.com.au/latest-news
https://www.facebook.com/mcgrathhomeswa
An earlier posting on the facebook site shows the modular homes that they have built in October and there seems to be around 11 of them.
Nomad is alive again thanks to McGrath Homes.
There has been a big seller at 5.3c who is still there. I suspect it is the clients of Entrust Private Wealth Management who have been selling for more than three years and originally owned around 25% of the Nomad shares. Their last post in October showed they were down to 7.57% or 21m shares. As far as I know they have no connection to the Board and since they gave up on the company so long ago, I suspect they are not reading about the big changes in McGrath that we have been seeing.
I really feel good about this stock now and believe it can take off. Would someone mind just buying that 21 million shares from Entrust to get it on its way
At least it has been giving us a chance to build up our portfolios before the share price takes off.
GPASAS
