I think the issue is not being able to find order book details. Reading the fin report it seems they acknowledg ethe lower staff members as contracts come to an end. The worry is what contracts going forward are in the order book? They clearly seem to be making decent margins on their work so it is more of a question of keeping the contracts rolling in.
I think if they can pull a similar fin report and cash flows of circa $5-10m for another year ahead and get a cash balance up to 20m, then 4c will be a more than cheap price.
The trading up to 5.1c was some decent volume and very quickly sold into. I wonder if it was a quick run up by traders which was dumped into by long term holders and those that got in luckily at 1c? Not sure if we will see a consolidation now and run up once it has quietened.
Is it mainly just the acquisition front or new contracts in terms of potential news flow?
RDG Price at posting:
3.6¢ Sentiment: None Disclosure: Not Held
