$40m rio contract starting this month, page-8

Hi Mike, I am also tempted at the current price. I follow your posts and like yourself, i am wary about the macro environment for these competing MS stocks. As you know sentiment is a big driver but i'm watching closely for this coy possible finding a bottom here.

FYI....Clime Asset Management have an intrinsic value of $0.98 cents and have a forecast NROE of 20%. Here is a snippet from the yearly:

For the fiscal year ended 30 June 2013, Southern Cross Electrical Engineer Ltd revenues increased 26% to A$278M. Net income increased 27% to A$17.3M. Revenues reflect Australia segment increase of 39% to A$275.6M. Net income benefited from Foreign exchange gains increase of 97% to A$420K (income), Net gain/(loss) on sale of non-current a decrease of 85% to A$33K (expense). Dividend per share increased from A$0.02 to A$0.03.


You may be happy to know they also value Imdex at $1.32 which sounds extreme. Even if they are remotely close,there are solid gains to be made.
So my theme at the moment is tread carefully and respect sentiment.

Apologies if the chart didn't upload correctly. Still an amateur in HC posting.
Thanks for your efforts Mike and good luck with SXE.