Originally Posted by
Waikaka
Probably just me on the bull side.
I gave into my weakness for horrible stocks and had a modest top up around mid Jan.
MRKT cap is down to $142 million, $230 million in debt which at least hasn't got worse, significant assets is what keeps tempting me, even though at this point it is a one way relationship. I am down 55.6% since my first pre-covid purchase.
My most hopeful case is that they keep the refinery trucking long enough for the margins to improve so they can get a few more puffs of this gutter butt and then eventually decommission at the next large capex/opex spend.
Seems like they are foreshadowing that in Feb they will announce the change to an import terminal but happy to ride it through.
In November/December they brought in NZ$ 24.6 million in processing revenue but ~14% of that was fee floor top ups so not that surprising the oil company shareholders are not happy.