I've been holding this one for a long time and have often been disappointed, but if things go well I won't be selling for $15m (20c). My basic target is $30m (40c), and I would probably sell part of my holding there if only to rebalance.
It's clearly a fairly low-margin business, but current management seem to be much better at managing costs and cash flow. They've also managed to stabilise and grow revenue slightly, and at this size the overheads and fixed costs loom large, so any growth is significant.
The buy-back may just help liquidity, ultimately everything depends on this half-year's results, which we won't know till 20th August (if they stick to the "calendar of events" they released in November).
KKT Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
