@orionwoo you sold your shares out into the stop losseS?
hopefully your opportunity comes soon if so, but I would hope for other holders sakes it rockets back soon
I actually didn't know much about management at the time to be honest. Would be keen to hear about the other names /owners and what people think? Obviously Forge Group we all know for all the wrong reasons but was Andrew Ellison still in charge in the last yr or two, or had he already bailed ship by then?
Would be keen anyhow on anyone more in the know to give abit of a run down or past credentials on the good and bad stints management and the major holders have had ?
13c seems abit steep for the stock, but then again I guess it depends what business they buy. If tehy buy something with a continous order book which is what they seemed to be after, then a 1 or 2c a share earnings profile could very well at 5 x P/E ratio be worth 6-10c more for the stock, depending on what sort of cash price/deal they cut.
If their order book continued at a decent consistent pace to 2H2016 then subject to no major payments or items, I would assume they'd have $15m in cash now.... interesting how this is at 17m market cap.
If it heads to 2-2.5 c it will be at cash backing or below and I might even sell out some of my coal stock and double up if so. Would be at a hefty loss on my existing purchases but if cash backing reached 15-18m cash this year with minimal debt one has to wonder how the market cap will be 17m.
Of course it wouldn't be the only stock that has traded at cash backing usually due to minimal growth/business opportunity and outlook....
