New Zealand Refining Ltd [NZR.NZX] we last looked at this stock back on July 5 2011, since then it has been higher than its current price of $2.47 certainly higher than its recent low of just about $1 and a half coming up around 16 months ago but this gem is set to rocket when things fall into place.
Get this if your going to buy it Monday, you will get it for just shy of its net tangibles which are, according to ASB Securities $250.01 per share.
There are so many variables as to when to buy this share; the price of oil, the US/NZ dollar cross, the refining margin, what the company is spending at present on capital expenditure and what the company pays you in divs.
You cant get it for less than its asset backing though, but in this case you can.
I myself am going to put a few shekels down on Monday, its the only share on the NZX I think is worth buying.
*currently my buy is in at $2.45, I won't go higher . Its up 8c on low volume.
NZR @ Share Investor
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Share Price Alert: NZ Refining Ltd
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