OnyxYes I am still holding the COF shares I bought in the low to...

Onyx

Yes I am still holding the COF shares I bought in the low to mid .80's.

Unfortunately I don't feel I have any great advice or much I can add to the debate about the current state of COF, except to say that I feel is boils down to whether one believes the company is being turned around or whether it is slipping into a terminal decline. Personally I subscribe to the former.

I am not privy to any information to validate my position other than what has been made public by the company in past updates. I feel that the previous HY report was a bottom view and that the new company structure was taking the remedial action necessary to stop the decline in profitability which apart from increasing revenue (through new work, and the commencement of delayed work) was primarily about recalibrating the largest cost(Employee benefit expence) to the lower Revenue stream.

I haven't seen any new contracts awarded to Coffey except the work with Azure Minerals, however I have read some articles about new employees to Coffey and cutting edge technology they are employing in the Mining sector. So while the company is quiet I feel it is possible aspects of there business are improving.

I undersatnd your trepidation at seeing the SP fall, we all have to make decisions on our own individual circumstances. Personally I am reasonably happy with my entry price into COF, I am not overly concerned that Mr Market is now offering scrip lower than my entry. I don't believe in an efficient market, most likely the market is struggling to place a value on the company until they see some more certainty on a timeline for the turnaround.

Sorry I couldn't be of much help.