Dropped more than that a couple of weeks ago and picked itself up and ran back up a bit.
There is an easy answer here and thats a profit guidance. New MD is claiming they now have direction and are poised for growth.
Recent directors buying, albeit minuscule amounts. Just think, spend $500 and she is back to 25 cents. Percentages either way are a bit irrelevant on a stock with this low level of liquidity.
For what it is worth I am quietly confident on this one. $5m+ in the bank and no debt. She'll be AOK. Within twelve months I think smiles all round. Still paying a 2 cent divi and no reason to think that will disappear.
The blog also alludes to using the strong balance sheet and partner relationships. I take that to mean acquisitions will be forthcoming. I also think this will be the case as it doesn't appear the announced buyback has been occurring. Better use of the funds elsewhere is one conclusion you could draw.
Would be lovely if they are still on track to earn 6 cents per share although unfortunately with the way they have communicated previously you never know until the announcement is made. Don't forget they slotted 3 cents per share for the half year so even if they did nothing going forwards its still not expensive.
JMB Price at posting:
$1.00 Sentiment: Buy Disclosure: Held
