Took the plunge and got a sneaky top up at 9.50 this morning. AT - it does indeed do wonders to a high average SP as such is my holding! Great volume today, lets hope we've seen the bottom for good. (been said before..) Alot of 100k trades going through today at 9.50, can't decide if we've a persistent seller or a buyer wanting in on the cheap....................
Just read your comment about JLP and the placing. I posted a comment on their bb over the weekend expecting some response from members. Try and get a view from those with a vested interest. The placing was not particularly huge or damaging and may be an attempt to soften up investors. If they feel their shares are being dilluted too much then they would be more likely to accept a merger. Just a thought....
Too volitile atm for me. Too many questions and too little information to make a purchase. Anything below 20p seemed undervalued to me. I will feel more comfortable after the elections. That said, this is AIM and in 4 weeks time the sp may well have returned to a level reflecting value. The company has mentioned share holder value, now its a case of 'show me the money' :-}
Yep I've topped up. Does wonders for bringing down your average and like you say how low can it go? People need to eat so surely the strikers need to work at some point. They must be struggling out there.
Well I noticed the placement today too and also the broker buy rating. With both companies MC's nearing parity, a 1:1 merger would seem logical. As you point out SLP are reluctant to use cash reserves so the JLP placement could be a ore-requisite to the potential deal? Just a thought...
Either way, the current SP is dire and like you say AT, something's gotta give. If the SP falls any lower we may as well divi the cash up in the bank and call it a day! Anyone brave enough to top up at these prices!?
Also think if merger was on the cards JLP would not have done a placing at such a low SLP so I think thats off the cards. They have no cash we have scrapped anything needing cash. Even Volspruit where we were to work together. So I just cannot see it imo and don't think it would get voted through by SLP large holders. Not sure if It was SLP that was sniffing round JLP but I'm glad we didn't buy them for something like 45p 12 months back :-)
Well say we were offered say 30p. How many PIs would turn that down? So in reality it could be took private on the cheap. I imagine large institutions will be offered to stay in and maybe get a divi. However, I think you have to look closely at our shareholding and control to see why SLP haven't been take over or merged. The main stumbling block is Samancor. They own 20% of SLP so maybe they would swallow us up. Who knows but something must give we hope :-)
of less than 2X money in the bank, not forgetting expected earnings. Just cannot figure out current valuation. It is so off the mark that it can only be interpreted as manipulation. Who is making money?
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