Well, unfortunately the task of hanging wallpaper (combined with pondering what would be me 5th pick) caused me to miss the deadline for the march comp...so for what it is worth, here is what I would have picked and the reasoning behind them.
MCH: From memory this company, which IMO is trading at a nice discount at the moment, is due to be in court this month challenging their "ex" insurance companys decision not to payout for a plant failure and associated loss of earnings - I think the claim is for around $400K, should they be successful this fugure is roughly equivalent to 40% of their tax paid profit for the FY to 30/3/03 - Nothing like a bit of good news to bump a shareprice.
HGD: Don't claim to know much about the mining business really, but have enjoyed watching the shareprice of this company rise over the last 6 or so months - they are doing a lot of exploration with encouraging results - they have already flagged that they would like to utilise the production facilities of the Martha Mine in waihi. The Martha gold seam has been proven to run approx 800m into one of HGD claims - this production is likely to still be a couple of years off - but imo HGD at 7cps provides a relatively cheap entry price to own a piece of a goldmine. :-)
NPX: In short this company seems to be doing everything right .. pse correct me if I am wrong !
I have a friend in their employ and he is very bullish on what is going on with NPX interest in China.. Excellent 1/2yr results and apparently a very progressive company.Div yield 6.7%, PE 10.28 and trading at only twice NTA. Barrel Scraper is watching for the blip on the chart that pushes this share towards $5.
BGR: hmmm.....The "bad" news is all out (I hope!) and the shareprice has been hammered - I am still anticipating a 4c div - the full year results should be out this month - hoping a little activity in an upwards direction occurs.
LPC: For no other reason (as I don't watch this share) than the fact that this company has a very attractive chart when the 30dma is laid over it.
For whatever reason this share has suffered a decline in value ex Oct 03,
it is playing very encouragingly with the 30 dma and if history is anything to go by should cross over this average soon, I would anticipate to see the shareprice for arguements sake at around 175 to 180 cps by the end of the month .
So now I've put whatever credibility I may or may not have on the line - i am off to finish papering the last 1/2 of the smallest room in the house.
Back to reality !!
Disc: Hold BRG, none of the others.
Good luck with your picks !
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