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Clearly they have the finalised results and will publish after the weekend so why make any statement? Looks like a pure technicality for Lusaka Stock Exchange.
Dollar revenue holding up. Need to get elections out of way, and Kwacha stabilised, before this can motor again. Company still looks solid.
Doesn't make great reading.............however very much driven by the weak Kwacha vs the US dollar. Hopefully this is a low point but it really depends upon Zambia resolving their foreign debt situation
Someone's buying because there have been plenty of trades the past few days, which is unusual for ZAM
I can now find out that's a fraction over 5p to sell
NT still to buy
it NT...but I got 5p
There is nothing to buy, just tried on HL myself.
yep...grisly, but felt compelled to use prior profits to rebuy 19k@5p
Not good news............will likely see the Kwacha suffer further
https://www.bbc.co.uk/news/world-africa-54928836
Yes, good spot revolutionary. Net debt was $55m at end of March. The sale of the farm was $10m and net debt is now $39m. This is actually in line with the previous year, where they seem to be paying down debt at a rate of $12m a year. This is the most significant piece of news from a fairly run of the mill trading update. Getting the $ debt down is key, particularly as it will reduce interest payments. We're firmly now on a path towards a firmer financial footing but the impact of Covid and Zambian politics still loom large. Remains one for the long term
Maybe I have missed something but that reduction in outstanding loans was considerably more than the sale of the farm. The money must have come from somewhere, and shows clear direction of reducing the foreign debt pile. Other nice thing about the sale is that the farmland assets of Zambeef appear saleable, and for substantially more than the current capitalisation. Is the company moving away from field to fork and concentrating on just the distribution and consumer end? Sell more farmland to clear remaining debt??
Still believe the politics of Zambia is holding this back.
Nowt wrong with the statement cept FX which is a constant concern. Shares fell as one would expect.
Interesting, thanks for sharing.
Yes, ZAM shareholders noticed it first !
https://www.web24.news/u/2020/10/the-new-oil-food-and-food-inflation-and-warren-buffett-noticed-it-first.html
Usually get a general statement about now as to how things are going and anything that is likely to impact the annual results??
https://foreignpolicy.com/2020/09/23/zambia-is-on-the-verge-of-a-pandemic-related-debt-default/
I still have a % of a party interest here. As with many other stocks Zam suffers from regional bias by London investors (see also some o...lies) despite creditable nos and shareholder funds c.12x the current sp. The copper price ($2.931) has risen c.5% ytd and 15% (52wk) and Zam though you might disbelieve it is up 36% ytd from a ridiculous low of 4 it must be said.
I'm not following Zam as assiduously as I once did so will leave the serious commentary to those closer to the action. It's a solid hold for me with CDC 17% stake locked in but further sp appreciation is in the lap of the Gods. Political shenanigans, kwacha depreciating 37% and the pandemic pushing Zambia into recession are all negatives but hopefully only short term ones.
I'm stuck in another underperforming Agri stock kiboshed by covid-19 but believe value will out eventually as the EV on a worst case p/ha basis is 6x current sp. Like Zam it's a solid hold in an unloved sector.
We're ticking along steadily here with the share price movng up. There appears to be a bit more confidence coming into the market in recent weeks so hopefully this will reflect in the share price.
won't take too much more buying
to set this back up on its upwards trajectory imv
Buy
Big 1mill trade today.............anyone know if it was a buy or sell?
During the forthcoming 3-5 years the copper price should rise.
That will also help to push up ZAM share price.
some modest buying but nothing to move the sp...yet
Agreed, but fairly reassuring..........decent numbers in comparison with last year. Covid is the big cloud but at least copper prices are rebounding which should help
unsurprising
I was hoping for small profit but good growth. No point contributing to the government bottomless pit - far rather see them investing in the growth of company. Comfortable with those figures.