Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Very pleased with the rapid movement. I've still had a bad week overall but good old STCM has stopped it from being a disastrous week! The chap who said it was 'breaking out' was certainly not kidding.
How do you like the share price now?!! Looks like we got in quite early on this one! Lets hope for further good fortune! GL mate.
200k buy - summat cookin?
1m trade £610k showing on lse above
Massive buys ... hopefully £1 next 6 to 8 weeks.
output of clinkers increased to 2000tpd - thas alot o clinkers ;o]
Gaining each day, even when the general market stays pretty flat like yesterday. Retrace at some point is probable in the short term, but for long termers this is just a taste of things to come. As i,ve said before, I'm sticking with this one - I think @ sub 50P anyone who bought in here has had a bargain. In 5 years time it will be a distant memory!
Nice to see some activity, plenty of buys today. I don't use or know how to use charts properly - I just look for long term value so if you have any other comments on charts/techs along the way then please post them. The late 30's/40p dip post results was expected but very brief - note to self to set auto top up buys in future to catch these dips before it's too late.
I thought that is what you meant. Nice to see these breaking out now
can I ask what you mean by technical break out?
Welcome to our relatively quiet board! Just seemed to be me and Ted up until now. Nice to see someone with a charting background - to compliment what we bring to the table - as I cant use charts! Are you saying that the charts indicate a 30% rise from todays open price?
...rise over the past few days! Anyone buying in @ 38p must surely be happy they did. I know I wish I had! But anyway, i'm more than made up that this sis back to where it should be, and hopefully we will see some further growth from here. GL
..."The Kazakh government are increasing spending on a number of unfinished housing schemes in the capital Asana. Better prospects have actually encouraged Steppe to revise upwards its forecast on Kazakh cement demand.." However, just to balance the argument somewhat, the article does comment.." At end 2008 net debt was $89.83m - six months later its down to 72.63m thanks in part to a placing and reduced inventories. Steppe needs it to be lower still before the winter when demand for cement falls by two-thirds in chilly Kazakhstan" My view - i'm staying put! I don't believe everything I read in magazines, but I'm humble enough to assume that they know as much, if not a little more than me. Based on the article, I didnt really learn anything I didnt already know about Steppe, other than the the government revitalising the Asana housing projects - good news. I still think this is an excellent recovery play! Lets hope I'm right.
Many thanks for letting us know - I didn't spot that article. Hopefully the worst is now over and investors will start looking through the front window of STCM instead of the rear.
....'Signs of better times at Steppe - BUY'
Nah, to be honest it was pretty much as expected as you say. We know its not going to be out of woods over night, but I think people have a habit of forgetting the difficulties - and so when this very truthful and candid statement came out it brought it back home to them. Bsides this is exactly why they are priced so cheap in the first place. You called this one spot on with a late 30's call in an ealier post. I suppose it gives you confidence in as much you saw that it might be on the cards at some point before it actually happened - subsequently taking the shock out of it slightly. Still, onwards and upwards now hopefully! Good manouvre jumping on TW after that dip yesterday!
No I haven't, plunged my spare cash in yesterday to TW. Big dip on TW yesterday morning so I had to dive in on it. Interesting to see where it goes from here in the near future, some big sells have gone through. The results would have been expected by most so it may just be a quick tree shake. KZT to USD been holding steady at around 1.5 for several months, hopefully it will start to edging back the right way soon. Nothing in the results to change my mind from this still being a long term hold. Did you notice anything new of worry in the statement?
Did you top up @ 38 ?? I'l be honest with you I bottled it! But held on tight to what i've got.
Thanks for that. I think your right. Lets hope the currency improves 5% gainst the Dollar, rather than the other way. That should help this share price no end, because it will effectively mean a 5% drop in companies loan payments, meaning perhaps they could overpay a bit, and get the monkey off its back a bit quicker.
Further devaluation of the KZT would be a surprise to me. I think Kazakhstan has a tight grip on it - central bank targeted a max +/- 5% fluctuation for the year. Devaluation would hammer their banks etc so I'd be surprised to see major changes. Further devaluation would have big consequences on companies like this that carry debts so I certainly agree that it's something worth keeping a close eye on.
The only thing that I would excercies caution with is their debt position. @ 71million, this is a still a bit spicy, even though its been reduced. Worth keeping an eye on the things that may affect their ability to repay - i.e. exchange rate between the Tenge and USD. Any further devaluation of the Kazakh currency would see me split! GL.
Agree, this is 1 of those that appears to be under most peoples radar. Those are my favourite - I try to beat the herd and get in while the share is undervalued. Got a similar holding to yourself. Think we are nearly through the bad times - stocks like this were always going to have a struggle this year which makes it a great time to buy! The odd negative RNS later in the year may push this down a touch for a good topping up opportunity. Then I'm predicting some nice solid climbs in 2010&11. Who knows what the global economy will be like in a years time - if things have improved considerably then STCM will be in a great position to capitalise imo. Strong broker ratings also help to support that our judgement on this 1 may well be right.
Hargreaves lansdowne rated - Strong buy
Nice to see someone else has spotted this one - I was beginning to Q my judgement! But then some of the real gems are often overlooked. I say this because further to my research, I really think we have a little gem on our hands. Its true that demand for cement has dropped considerably, and further pressure imposed on the company via the deavluation of the Kazakh currency against the dollar. However, as a value / recovery play I see a lot of things ticking a lot of boxes. They will be the main player when it comes to dry production cement manufacture, putting them ahead of the competition coming out of global recession. They are already grabbing more of the market share, forecasting 30% in 2010, putting them in a serious position for growth when the time comes. Debts are reducing, relieving pressure bit by bit on the dollar loans. Kazakh government encouraging protectionism within the sector, so captive national market. Market cap (52.4) divided by profit (18.24) means this business could cover its own market cap in profits in only 2.8 years!! OK, I realise this is a crude calculation when not taking the debt into account - but still! I personally see this as a winner. I'm staying in, and will top up further if it dips into 30's. Good Luck Ted
Thought I was the only investor in this one! This is long term for me. Bought them for the same reasons as you have stated. Their just struggling due to the low price of their product at the moment, their market share performance however gives me great confidence. When we all pull out of this recession I think they will be much better placed than they were a year a go. Think this is 1 of those shares to buy and to stick in a drawer until 2011. I'm looking to top up on weakness, somewhere late 30's would be a great opportunity. We'll see what happens. Best of luck