Small profit from continuing operations and sale of Japanese assets - this certainly de-risks the company. It gives management time to make good decisions without selling assets for a loss and decreasing NTA. Our NTA might be increasing by the next annual report.
Like I had predicted, employee expenses are right down. Legal fees are right down.
"Subsequent to balance date the Trinity Group has executed 6 contracts of sale (at a premium to book value) on units at the Cumberland Lorne Resort. One unit settled in early February 2011 and the proceeds from settlement were used to repay debt. The contracts of sale on the remaining 5 units are unconditional and will settle by 30 June 2011." - This seems positive - it should boost our NTA further. I guess not by too much, but a bit.
It seems fairly low risk to hold TCQ now, just waiting to realize the NTA.
I am not buying or selling, I will hold.
TCQ Price at posting:
12.0¢ Sentiment: LT Buy Disclosure: Held
