what's up with nlx?

The AGM is just over 2 days ago, the next catalysts / triggers point of interests are:

* Brokers (Lodge partner, Merryl Lynch, Ords, Bell potter/UBS, City Group[Solomon Smith Barney, etc] are updating their research reports. Citigroup (SSB) has issued 32 pages of updated report on NLX, company said. Those have dealings with SSB might have read them yesterday. City group once has stated NLX could be the next GUD.

* SPP is closing on next Tuesday , 14/6/05 (Monday is public Holiday, Queen's Birth day). Just wander what happen if the share price drop below 27c (27c is placement price for instos, retail share holders would be happy for once to beat the big boys)

* IF NLX can sell the Automotive division by June 30 2005, and get about A$40 m (refer to the open briefing on 20 /4/05) that would be nice. The debt can be further reduced to about $60m (about A$100 m now).

* If drought continue (hope not, as the farmers can/may get poor), the water business can further improve. The other side of the coin, the water restriction may lessen the sales of Gardena hoses, tools, etc.

* Clip on acquisition for AH Plant Hire (hope, it is earning positive and don't spend too much as another placement may be required unless it can be debt -funded)

Is NLX still bargain at 27c? Time will tell.

Cheers & regards,

BL