Ouch... really regretting getting in earlier (sory just realised my disclosure has been set to 'not held' all this time). Should have waited for the pull back.
Happy with the $13 mill cash being a 2 cent share backing (632m shares on issue). The extra 2 cents to take us up to 4c would be attributable to earnings and future potential , assume 0.5cent EPS going forward due to reduced order book sand the fact that there's no forward guidance on revenue/contracts - my email to the company still has gone unanswered, maybe investor relations isn't there thing - which would be 4 x earnings.
Then again most benchmark the total share price by earnings and disregard the cash backing... so this would be 8 x earnings. Maybe appropriately priced given the lack of a forward path at this moment? If they manage to maintain $0.01/share earnings-per-share then buying in this 2.7-3c range would be great. Pity i jumped the gun.
Although some here still seem to think 4-5c is still 'cheap' on a conservative basis?? What do most here believe reasonable pricing to be? I saw 6-7c being floated previously?
RDG Price at posting:
2.7¢ Sentiment: Hold Disclosure: Held
