ummed at ahhd at gone 4 last night as they had big rise yesterday...glad I went and jumped on board. Was in AMA last year and got out at right time thankfully. Have been watching it since mid 60s fall. Test for AMA will be 40p I think. Def one to watch tho.
SHFT is tricky to call wi EC but I aint worried I am 25-30% down from my avg. If breaks 50p this shld get quick leg to 60s. GL
I was tempted to buy more (avg 55) but plumped for Amara instead. Would not have regretted coming in here but already top heavy in here. Should def test high 40s soon, hope to break above 50p. Full year report due on 19th April. Good/bad....who knows, tho the market will do what it wants whatever it says!
However, Eurochem's actions do seem petty and oafish. They must know that their claim dwarfs Shaftsinkers' entire value. Even if SHFT liquidated its assets in an effort to appease the claim there would not be anywhere near enough cash.
Perhaps it is one last stab, ensuring it has the last laugh. I'm not sure. But Eurochem can't possibly expect their claim to be met because it simply isn't possible. And if they aren't expecting repayment, perhaps they are trying to just get back at Shaftsinkers. EUR see it that SHFT has materially impacted the value of their company, so EUR do something to materially impact SHFT's value. They've done a good job.
Maybe it's all hot air after all.. Or maybe not and EUR want to dog SHFT to the end?..
547Trader, I agree. Wading in now could be a mistake. My concern is that this action could go on for years, the bit that worries me is that construction projects are very complicated, and high risk. Too many unknowns, e.g. ground conditions, and contract clauses that have not been tested........... It may come down to expert witnesses, and a view of what is reasonable..... That could be a long drawn out affair..... I wouldn't be surprised if each side thinks they have a good case.
That's the same dilemma I find myself in. It would be gambling surely. We'd simply be betting on the Arb claim going away. I'm currently trying to find out more about it. I emailed SHFT last week but they have not responded.
The Board collectively invested £50K shortly after the Eurochem arc claim was announced. Obviously to calm the market. None held shares previously.
Would they put their own money in if they believed the claims held merit? Definitely not. But the move only confirms SHFT to be a buy for us if they are correct in their thinking. They would be best-placed to have an opinion on this, out of all parties.
But if their conclusion is incorrect, if they underestimate how dogged Eurochem are prepared to be and wish to pursue their claim, then their signal will prove to be a red herring for us.
Personally, I'm leaning towards preferring to pay a premium with the knowledge that the claim is out of the way rather than to dive in and hope for the best.
At the moment I don't feel I have enough information to support an informed buying decision. I have not seen firm timescales. Taking the Eurochem situation out the equation the figures and company look good to me. Could this action go on for years? If I bought in now would I be long term gambling?
I'm keeping an eye on these with a view to buying in when the Eurochem case becomes clearer. Also, although industrial unrest in SA has calmed down for now I wonder if there could be renewed instability if Mandela dies. Watching and waiting for noe.
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