I'm contrarian by nature too. But have learnt the hard way that...

I'm contrarian by nature too. But have learnt the hard way that contrarianism works best in moderation. The timeframe for turnaround or recovery in a stock or sector can vary vastly from situation to situation - sometimes 6 months, sometimes 10 years, occasionally never.

Applying contrarianism to a stock like NBS, which could still be vastly over-valued and where the company is not communicating clearly remains essentially an investment strategy with coin toss odds (or worse).

I say "could still be vastly overvalued", as who knows what value to apply? What could any valuer base a "sustainable income" on for NBS? And, on an asset basis, how certain could any valuer be of the realisable value for the intangible assets and receivables?

Even valuing as a "development stock" is less simple than for a typical mining explorer or early stage biotech - in these cases, valuation is still possible using knowns like potential market size and demand, "pegged area" (in terms of mining lease or IP), and activity stage based on company disclosures of exploration activity or pipeline. Information available on NBS is, so far, rather woolly even for this type of valuation.

Of course "too woolly to value" remains a pre-requisite for a decent "trash trade"... though I think the best time for a trash trade on NBS may have passed. (And, of course, the number 1 rule for a trash trade is to never hold through a result!)