Hi crimper, another viewpoint...., yep it's been a poorly run Company who took a big hit also from the GFC downturn. no it's not profitable again yet, however its trading well below its NTA so that puts it in prime speccy country for some good returns if it survives. The risk was liquidation/administration and that risk has now abated considerably with banks supporting them and a stated goal of replacing the board and systems underway. Needs a ground up renewal and rethink and this resignation is not going to be the first before this is achieved.
So it's a turn around story with some risk to balance its reward. No it's not woolworths but it's worth a lot more than 16c so it's a buy for me - target 29c.
NOD Price at posting:
13.7¢ Sentiment: Buy Disclosure: Held
