big drop form a low value POV today. first time I can remember hitting below 2c in the recent down trend? Probably more to go... if it goes closer to 1c it would be a hard ask justifying below cash backing levels: the big unknown being cash burn.
I thought the move into construction was exactly that: to get some side money and people employed? Although being selective so that they still make money when they do work... on that regards the residential market here in WA isn't crash hot, they seem to have gotten selective work that's turned a profit which is a kudos to management, but I don't think it would be a necessarily strategic diversification if they had it their way (as surely it isn't the best market to get into at this stage of the property cycle currently...?)
great timing. You probably sold out somewhat to me! I still am watching for a further entry but yes, definitely contingent on work picking up. Big IF as we have been speculating is future work. If they snag that then great. It will be happy days indeed.
RDG Price at posting:
1.9¢ Sentiment: Hold Disclosure: Held
