cheap as chips, page-4

Cheers. It's a funny situation, with so much cash- 33% more than market cap, but still has debt above the market cap. There must be some method in what they are doing, I guess- cheaper to have debt with low IR's, than to pay it off?

This company might be in the best situation it has been in for a long time- as a value proposition- as it is at 10 year lows for the share price! It now has $90m in property left- not sure how many of those the company considers "core" and will be keeping. It seems to be moving towards growth, in reinvesting capital, than it does towards de-leveraging. Results probably out soon- the last ones for the corresponding period came out on 22nd August. There should be no real surprises, as the company is very transparent in reporting (imo), but I expect the NTA to be rather less (than the previous $1.17), as a big bunch of the NTA was for property.

Hard not to look at this one. It came up on a year low scan, and in having a read of what it is doing, it seems to be a good turnaround story.