I think this company will disappoint some people here I guess.
2 reasons:
- While probably the worst is over in the mining services sector, the capex hasn't returned yet. RDG is a capex business, not opex.
- The annual report revealed they are left with just 53 people "At 30 June 2016, the Company employed approximately 53 people (2015: 250 people)". And many of these are employed 4 days a week or other part time arrangements. So I guess next half year's revenue will be a fraction of last half, considering they entered H2 with 170 employees..
I think the odds are in favour of this company in the long run, but I do believe they will see some difficult times before RDG turns around..
I thought it was an interesting play at 1-2 cents, but now there is more risk involved in the short-medium term.
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Last
2.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $88.52M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 503210 | 2.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.5¢ | 34000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 437959 | 0.024 |
2 | 550000 | 0.022 |
1 | 220000 | 0.021 |
1 | 10000 | 0.012 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.025 | 142147 | 1 |
0.026 | 25714 | 2 |
0.030 | 100000 | 1 |
0.032 | 199999 | 1 |
0.033 | 100000 | 1 |
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