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E_AL's post from 8.07 has been removed. I think someone at LSE should have removed the subsequent ones on which it was supposedly based.
It’s not that unusual. For example KAZ cfo is also not on the board
" It was the first time I came across a company with CFO not allowed to be part of BOD so I thought maybe one of you guys know the reason behind this."
not allowed ?.... it is a temporary position ...he is ACTING CFO
Also ..if he joined the board he would have to accept the legal responsibilities of being a Board Member....maybe he does not want that
Agree Dark, I also think the sp should show some recovery in the near future!
It was the first time I came across a company with CFO not allowed to be part of BOD so I thought maybe one of you guys know the reason behind this.
Chickened out **
Eal you are hardly going to affect the price of fxpo even if you were... glad to see it moving up... I was thinking about buying more when it fell but thickened out just encase
Apologies I mis-read the RNS column on the share fallers page.
I was referring to the RNS from last month about Palyvoda and his new CFO rule:
"the Board today announces that it has appointed Mr. Roman Palyvoda as Acting Chief Financial Officer with immediate effect." - "Given the temporary nature of Mr Palyvoda's appointment, Mr Palyvoda will not join the Ferrexpo plc Board of Directors."
* No deramping intentions here at all lol
no rns ... nothing on the London Stock exchange,
It's also a typical tactic just as a stock is breaking upwards!
Broker tampering again as they no doubt attempt to get their clients in!
IG reports JP Morgan cutting FXPO to neutral from overweight.....ridiculous over-reaction
top off opportunity this am at 147p !!
@kevwal Ingrid at Ferrexpo in an email doesnt believe this applies to dividends, just bonds.
It is why I asked her why are they not issuing dividends from their share premium account like Glencore do to overcome Swiss Withholding taxes.
Juxtaposition - the thing to consider is that there's a big growth story upside - the first of which is the transition from 10.4million tonnes to 12million tonnes in 2020. That's a very big variation to the cashflow number which means they can either go net cash rapidly quicker or increase the divi even more. 200p is very cheap.
@mattwales
I posted this a few weeks ago
I believe that the reform of the Swiss Tax system is that from 1/1/20 there will be no withholding tax on dividends for foreign investors. This has been a draft bill for a while but approved in the last few days: HTTPS://home.kpmg/us/en/home/insights/2019/11/tnf-switzerland-tax-ordinances-implementing-tax-reform-measures-for-2020.html Not 100% sure, but I think that's the case. I am sure FXPO will highlight this fact once a divi is announced since it makes their shares more attractive imo
if they sort out the swiss withholding tax issue add 40-50% on.
if u hold here bug the company by email to pay dividends through their share premium account like Glencore do (which makes it free of swiss taxes)
300p by april/may imho
Agreed Nickel. I'm in at 129p and am not thinking of selling until £2. When it hits that figure I will review whether she has £2.50 in her.
Dk - they can move it up , down , sideways but I’m locked into the fact that there isn’t a cheaper miner on the lse. 170 levels are still bonkers , Much higher is coming here
can we breach 160 today ... maybe 170 by friday, a man is allowed to dream lol
we're about £1 under priced in relation to iron ore price.
with trump/china out of the way for now we should start clawing back to that level.
NI you speak wise words...
MattD - macd crossing on the weekly chart and that's before it even gets back to zero. A very positive sight with further positive reads ahead.
Reason most won't make the sums they can on this is because they focus on the day to day movements in Iron Ore - and that applies to both upwards and downwards movements. What matters above all is else is the strength of the cashflows vs the valuation and those have been highlighted below. Cheap is cheap whichever way you cut it. Iron ore at 65% grade is around $105 right now but this still throws off cash below $70!!
we moved up Friday with a slight decrease in the iron ore price.