Interested in what other peoples' strategy/mindset is concerning RCY. My thoughts are as follows. Bought at 12c. Sit on them for at least another year or 2 as once start dividend price will go up several multiples and hopefully more. Not much chatter on hc so does this mean instos are the buyers at the moment because they see the long term goal.(from memory instos are big on the top 20). At these prices an ordinary divi(say 4c) would still mean 25% on their money(plus the potential cap gain once divi starts). On the merits of the tunnel. Progress seems on track. Accidents in Brisbane can cripple the network so another option could be seen as good.Imo the things holding this back are -- other city tunnel history, but this is Brisbanes' 1st so quietly optimistic -- amount of debt but credit conditions seem to be improving. The buy/sell nos. always show way more buyers which lead me again to my insto theory. They are quietly accumulating while the going is good. I hold with the expectation of $1 in the future. What is your strategy?
RCY Price at posting:
16.5¢ Sentiment: Hold Disclosure: Held
