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personally I do not see it going to 110 ... even if it did it will move back upwards super fast... Iron ore is still quite high... fundamentals are all good so far... divi is excellent... great profits, PE ration is very good...even baron has bought in unless the market knows something which we don't..
Just wonder where the bottom is here.
Why £1.10?
Looks like market wants this to go to 110, before it can rise again, although fundamentals look solid...
Unreal sums up the market atm. Unloved atm but gòod value long term.
Shocked to see this finish in the red after what looked such a promising start. What's going on here? Why can't we build any momentum?
Way to think this through is that even at £3 it's only trading on a PE of 4 ! Almost unheard of in the mining space that has similar payouts, life of assets, discounted cash flows. I love to short , this is a screaming long
"The Board is closely monitoring the situation and will take any actions that are needed in the interests of all shareholders and the Company."
A crazy low single digit PE, a big dividend to boot, an asset that produces for decades and a board that is now prepared to take action. Just can't see the share price staying this low for much longer tbh.
The information of the State Bureau of Investigation about the announcement of Konstantin Zhevago on the national wanted list because of his alleged failure to appear without a good reason to the investigator is distorted and untruthful. This was reported by the press service of K. Zhevago.
"This information is untrue and aims to manipulate public opinion regarding the legality of the persecution of Konstantin Zhevago," the statement said.
The press service reports that, on September 27, 2019, K. Zhevago was unable to appear at the State Duma because of medical treatment abroad, where he is still located, about which the investigator was notified in advance with the subsequent provision of supporting documents. These circumstances are a good reason in accordance with Article 138 of the Code of Criminal Procedure of Ukraine, therefore, all subsequent procedural actions in the absence of a person who is being treated abroad are illegal until the end of the above activities, the report emphasizes.
According to legal adviser K. Zhevago, the current situation with a call for interrogation, absentee service of suspicion, a statement by the investigator (and not the court) about being put on the all-Ukrainian wanted list, neglecting the laws of Ukraine, is selective justice with elements of a PR campaign of the current pre-trial investigation bodies.
“This is nothing but falsification of evidence with the aim of carrying out illegal procedural actions: not providing for“ absentee ”delivery of suspicion by law, illegal putting on the wanted list (only a person whose location is unknown and only when he is not brought to the investigator without good reason can be declared These facts testify to the excess of authority by the investigators of the State Security Bureau, that is, about the commission of an official crime by them. More than nine dozen banks were withdrawn from the market, many of which ala doubt, but the question somehow emerged only to Mr. Zhevago not as an employee of the bank, as well as its shareholders ", - said the consultant.
“In the current situation, elements of political persecution are being seen. With such accusations, the pre-trial investigation authorities did not dare to submit an opinion on the removal of Zhevago K.V. from parliamentary immunity to the previous Verkhovna Rada of Ukraine, realizing that it was legal, public and legal to turn a commercial enterprise into a criminal article it’s not going to be transparent, ”the legal consultant added.
FXPO had almost $900m in debt only a number of years back, its now around $270m. As Baron said yesterday that's excluding all the capex and dividends that have been paid out too! This is swiftly accelerating towards a very large net cash position because it's assets produce for decades. And right now, FXPO is only trading off a PE ratio of around TWO!! These prices have to revise upwards very soon. And if the CEO steps down from that role or away altogether these will rocket to £3 before you know it because of the above. Fantastic risk and reward
Look at the balance sheet, the company's retained earnings at the end of the year will reach $ 3 billion https://www.londonstockexchange.com/exchange/prices/stocks/summary/fundamentals.html?fourWayKey=GB00B1XH2C03GBGBXSTMM
Div date ?
This is a value investors dream. I hope it drops further. I am adding each week and averaging down. Managed another buy at 141 today. Cant wait for the divi and rebound.
That's what, I said, how did the shorters miss this one? Down from 275 to 140 in the space of 3 months.
There ain't NO SHORT positions because the balance sheet and cashflow statements are just too good VS the market cap. Right now, you can accumulate shares at a crazy low TWO x Profits !!!
Dipped my toe just over 141. I see the Baron is back in for some more.
Tempted to buy some more but can't quite bring myself to pull the trigger......
repression I still can't see any new short positions ...this is a crazy steal at 140. I like the new narrative on the trade deal which the media is pumping out lol
i know PFC is a complete different situation where the company has been accused. Anyway like I said as long as the profits are not affected.
strangerstill that is a good point you make... end of the day like I said will these accusations have a impact on the fxpo profits ? is it similar with the scandal which has plagued Petrofac...
Looks like the damage is being done now - it's relentless. I wonder how the shorters failed to miss such a big opportunity?
The operative part of the RNS is ‘Meanwhile, the Board has been informed that Mr Zhevago has not been served with any legal notice’, this is probably true as Mr Zhevago will not, personally, have had a legal notice served on him by the Ukrainian prosecutor as he is not currently in the Ukraine. I suspect that legal notices have, however, been served on his legal representatives in the Ukraine. I have read a report that the Ukrainian authorities are in process of drawing up an international arrest warrant for Mr Zhevago. I would be very happy if the final result is that Mr Zhevago’s influence in Ferrexpo is diminished but I suspect that there will be more damage done to the share price in the short term.