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NRW Holdings (NWH) $1.73

NWH +11.97%: Rallies strongly today on the announcement that its subsidiary Golding Contractors will sell 38 major mobile mining assets for about $81m. The deal struck will only reduce earnings by a small ~1% however it will reduce gearing substantially, taking net debt from about $115m to about $34m. That has been a cause of some concern in the market and today’s news is clearly positive in that respect. This has been a poor position for MM’s Growth Portfolio in more recent times however todays move confirms to us the stock is cheap and susceptible to strong rallies if news becomes ‘less bad’. Margins now the key.

MM remains bullish NWH
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NRW Holdings (NWH)
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