RBA AT A LOSS
In a negative update for embattled shareholders, RBA announced an expected loss for the six months ending June, and this after the recent rights issue at 8c/share. The reason for the loss is apparently “a result of low production volumes with only three major projects being under construction during the period”. We’ll wait for the results that are expected at the end of September, but the turnaround here is taking a long time. Admittedly, turnarounds are always drawn out, and that’s why I always prefer to back the winners who are gaining ground as competitors try and turn around.
SACOIL FUTURE IN THE HANDS OF ITS SHAREHOLDERS