Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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It has nothing to do with the FBU. The point i make is that ASTO are in no position to honour its contract to supply a reserve force. As i have stated in previous posts this firm has no cash, it has been borrowing small amounts, 10 million not small to me but you know were i am coming from, to stay afloat. This firm has been charging LFB for work that it hasnt been completing, it took a while but they caught on eventually, so there are now more fines that cash. You may remember the shouting about replacing appliances with mini buses so they could be modified to meet emission targets. Well to date they have changed none because the kit never fitted so massive mod program required and there is no cash for it. The rumour is the LFB may front the money, ohh the irony. Most of the points you make are true about the FBU and we will see over the coming months how it pans out. The point i make is this ASTO has a contractual obligation which costs them money they havent got. You are right the Gov will prob help them out. But just as an idealogical argument. You cant beat a private firm getting a public contract then mis managing the money only to ask the public purse to bail them out, and people say the public sector is inefficient.
ASTO are still in business refinancing will go on behind the scenes and away from Private Investors The PIs with a few notable exceptions such as Kline are holding just minor amounts of shares and that is one reason that the BOD have had little compunction in destroying their 'little'investments. They feel vindicated at reducing the value of the shares to 1/1000th of their value because they can point out that they give plenty of warning. Strikes? firstly the fBU will have to work hard to get a mandate for a strike and that is not a foregone conclusion If a strike is called then it will be a NATIONAL strike so there will be a big problem for every UK Fire Service not just London and Lincs. The FBU will have it's work cut out to prevent strikebreaking within the fire Service across all the Brigades . This will take a lot more effort than worrying about the few students and ragamuffins who formed Assetcos 'Fire Force' last time out. Besides the Armed Forces will not be placed at the disposal of the Local authorities so who is to say that private companies may be contracted to provide strike breaking fire cover. Meanwhile the FBU has to persuade it's members to go on strike and more importantly stay out for prolonged periods-something that it has not been able to do in the last National Strike back in 2002 and the strike in London last November As for cash up front md67 -the Gov't will go to any lengths to stop this strike succeeding -shouldn't be a problem -esp if they lock out the firefighters and use private firefighters beyond the strike, The Gov't might even threaten to sack the firefighters
I am not sure if there is a way of showing sarcasasm in a post. But if there is then it should be all overe yours. If the FBU go on strike in Nov. 2 things will have happened Assetco UK will no longer exist, best hope would be a TO. or second option ASTO do still exist and all the workers will ask for money up front. I know i would.
Will cover for any strikes.
Who's going to look after London and Lincolnshire now if the proposed strike action takes place ? Oh dear what a mess. You , The LFB and Lincolnshire have been taken in on the promise of money saved and and profit. Youv'e been done. And so has the public. Face up to it.
Alot of us thought the worse case fundraising could be at 1p. How hard could it have been to raise funds even at the 1p price? I don't think it would have been difficult looking at fundraisings that have gone on this year. I'm not writing my investment off here yet, will just keep hold until whenever it goes back up. Probably early-mid October when these come back from suspension. Hopefully one of others RLH like previous big winners on acquisition can recover some of these current paper losses associated with asto.
Just why do you people who have invested cash in to shares like this bother ? Are you on a suicide mission ? Fund managers are on a serious amount of money. Does that not tell you anything ? Dabble for a bit of fun but don't lay waste to your life savings. A fool and their money............
No need to take a break, just put a rule in place - don't invest in something whose debt exceeds cash. Most of the buys are small PIs really, just lemmings over the cliff...the only reason for the price movements were to entice people in...no one will buy something that's flatlining...dead cat bounces just like CNT at the end.
You are so right, will have to have a break from dealing I guess and just hope that my other holdings will come out good (VOG, SAR, PYC and others). One other thing, can someone explain all this heavy buying in the past week. Doesn't make sense of why someone invest in such a bad stock?
Can't believe you invested here after experiencing CNT. Don't understand why anyone does - there's so many decent shares out there. Investing in this share over almost anything else in the market is like being able to find a beautiful wife but instead choosing a 50 year old prostitute with aids.
How can ASTO be different from CNT, as I smell a rat and the big one too. We can never be sure what will happen once suspension is lifted. If this will happen at all, or we get another nasty RNS to finish things off?
isn't big, just £1k, as I never invest more than this on risky stocks like ASTO, but still hurts. I think after dilution my holding will be worth what around £100? Correct me if I'm wrong..
Don't worry your on an absolute winner. You will be quids in.
Last year on 7th September (CNT) Connaught went into administration and I lost almost £2k there. Shall I just stop trading in September or quit completely?
got a very important looking email from Halifax share dealing telling me to check my account for a Corporate Action on ASTO. Turned out it was about the dilution. My head started spinning when i saw figures like £0.002 per share and other figures. Really, it's not a pretty picture honey.
Maybe you should read the scheme and how the dilution will work. effectively out of a £1000 i should get what? 80 quid? maybe?
this is only temporary suspension and it doesn't mean anything yet! We just have to wait for their accounts to be published and suspension will be lifted?
i meant never bet what you can't afford to lose!
trust anyone! and never bet what you can't afford - though i'm very much guilty of this one.
£9000 for me - and no i can't really afford it. No wonder people are sometimes pushed to violence.
That's 1 grand down the drain... Hope i can more than make up for it with my other holdings (one of which was on riddler's list, thank god).
Scroll back through riddlers post as he as answers that question once before from, memory he tipped TEG, RUR, AST, WGS. MXP are looking very promising with yet another Oil find announced today , Plus some very big drills before xmas
I think there are a lot of PIs currently doubting themselves. Impossible to answer you accurately as we dont know what price you bought at. I expect you are simply seeking some reassurance. Something no-one here can give. If its any consolation, my PF is looking pretty horrid right now but I am aware how things may be vastly different in 6 months. Good luck to you.
You have been consistent with regard to where this share was headed but no kudos for that - bring those skills to a rising share? How do some of us who have lost quid in this recover? ya, give me three stocks that can save me!
sorry cant find the RNS, you have a link?