All the pundits of negativity and gloom have retreated to the...

All the pundits of negativity and gloom have retreated to the dark broom closet wondering how they failed to recognise the obvious potential of this stock. I assume the NTA still exceeds the current market price. This company has the support of a management team who put their money where their mouth is by participating in the capital raising with their own money. They recruited a new CFO which the pundits suggested was a sign of complete surrender of the company rather than a sign of the company entering the next phase of the long road back. It will be interesting to review the suggestions that the CEO is being paid way over the top in another 12 months. Anyone who attended the capital raising presentations and had the opportunity to have personal discussions with the management team would not be surprised that it is starting to come together.

The potential is now commencing to rise to the surface, the signs look good but the road is long. Management still has a lot of hard work in front of them but they are on the right track. The presence of suitors confirms that they are heading in the right direction and have made the right calls. The Board still needs restructuring and they have to achieve some consistency in their results before the market will embrace them with any confidence but it is pleasing to learn that they have made a positive start.