The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Surely there would be some sort of shareholder recompense? Personally this is my first experience of such a situation, but I would have thought there must be some value to be had out of the company surely. I know they had high debts, but they were holding 6 x divi's on the bank a/c unless i'm mistaken. I agree this does not look good at all. If they do manage to sort these problems out, the minute they re list - I'm out! The best part is I only bought in something 2 weeks before this happened - 2.7k I just hope for other people's sakes that they have not lost their shirt on this one! Good Luck.
I agree - this was one share that was definately way oversold at anything less than 50p. Plenty of things stack up for this one, and I think that patient holders will reap easily more than just a 100% profit from these levels in the mid to long term.
.....is obvious @ 118 - bounced twice now. Needs a tailwind to see it breach the resistance @ 130. Following a clear trend line in terms of support, If this one does burst through 130, next stop 140! If it meets stiff resistance again then next stop could be 105. Have to wait and see - I'm holding whatever happens - good long term prospects. Perhaps Buffet might ask them to refurb his new trainset he bought!
Thanks for the heads up - I must be honest it escaped me - I really have not been on the ball recently! Tried your link - but for some reason the page wouldn't load, so I found it on ADVFN: http://www.advfn.com/p.php?pid=nmona&cb=1257430004&article=40126636&symbol=L%5ESTCM Thanks for the heads up mate!
....pretty hefty resistance in the early 130's - tried 3 times and failed. Wonder if this one will cool off now and fall back a bit.
Not a top riser - but I certainly ain't grumbling! Nice little 4.72% rise will do - lets hope it sticks. Good Luck.
Thanks mate. I'm hoping AI will come good - they were due to list on the main markets would you believe. But time will tell. Good luck with your suspended share - hope that one comes good for you!
Don't worry mate - hindsight eh?! I was honestly very tempted to to take profits in the mid 70's, but became complacent because I was nursing a few losses on a few other shares, and my holdings in Aero Inventory got suspended - so took my eye off the ball. However, I did think we would see at some stage a pretty shocking retrace to shake out weak holders. Thankfully I held on tight, because I think we will see some (albeit slow) improvement here. Keep your eye on the dollar though. I think this share is quite closely pegged to health of the dollar for obvious reasons given the debt levels of the company. Well worth keeping a close eye. Good luck.
....for the past 5 days - not great for STCM and its $ denominated loans! Dollar seems to have bounced off 2008 lows, so could be breaking out. Not great for the markets really.
Seems to have support in the low 60's at the moment. If it holds, we could start seeing the beginnings of a new up leg. If it breaches 60p, we could be in for a rough ride.
I agree entirely - I cant really see Essar having pulled the plug on CDN - especially with them travelling to the mine last week. However, even though I'm still in this stock, and hoping it works out well for me, and all you other guys invested here - I still wouldn't hang my hat on that mine visit being a signal of a done deal. People view property every day - that they later on decide not to buy - we have all been there and done it. My fears - from what I've been reading - are the complex and slightly onerous conditions that the Aussie government have set for previous buy outs on commodity based businesses. It could mean that it just delays the process - in which case we have nothing to worry about. Or it could end up killing the deal. However my hunch is that this possibility has now been priced into the SP somewhat. So if anyone is still prepared to bet on a successful T/O, then now would be a great entry / top up opportunity. For me - having held for a while @ an average 62p - the stocks on a yellow card. At the moment its border line for me - the MMs have got me on the ropes! I wont break my golden rules for anything, any lower and i'm gonna split. In the meantime, good luck to everyone involved in this stock. ATB ..1WJM
In addition to this, Essar have walked away from another Aussie mining company takeover recently - I forget the name - but whether this is due to to overly onerous Australian conditions being met / imposed who knows? Essar wouldnt provide a reason for pulling out Maybe there are fears that the same thing is holding up the deal with CDN, and this one could subsequently fall through to too. Who knows? On the flip side it could mean their going 100% for CDN, depends which way you look at it. In which case this recent treeshake is all down to MM's looking to stock up.
....overall the whole sector is down. There is some bigger fallers than CDN as well. Looks like the whole sector is taking some profits after a good run the past few months. Quite a few coal miners on the main fallers list within mining sector - GCM taken a drubbing! Personally cant find any valid info to logically explain why, other than general market movements.
I could be wrong, but with reference to my previous post I see this more as MM trickery than anything else. Why else would they drop the price, scaring some unwitting investors into selling, yet their not prepared to part with their own stock for less than 15% more than they will buy them for?? Checking for news on the company, nothing has fundamentally changed as such. This is only my theory - I could be wrong. But on this basis i'm holding. After all - I did say to expect this sort of drop before the next upleg - the MM's love to mop up some cheap shares before ratcheting up the price. As always DYOR, because the stock market moves in mysterious ways, I only wish I could get it right every time! Good Luck
Is this just a tree shake I wonder? Are the MM's stocking up at the moment because they know something we don't about the takeover? Cant find any news either way. So i'm hanging in there. Either my suspicians will pay off, or their going to cost me!
Coudn't open your link. But found it anyway! Cheers. I've copied and pasted to see if this will work: http://www.theaustralian.news.com.au/story/0,25197,26220051-5013408,00.html
I think people are slowly starting to get very bored of waiting here. Pretty much 6 / 7 weeks now of waiting for something to happen. Still, I m not falling victim to jumping just before the ship is about to sail. I've waited this long, so I have to carry on waiting. I wont be grumbling if an offer of anything over 120p gets put on the table. When I bought in originally I felt it may be a lot more than that - but as time has worn on, I've become prepared to settle for less. Lets hope the board are not as soft! It could very well be, that the reason why these discussion are taking so long is because CDN are negotiating a top drawer price for their resource laden licenses. Who knows? Anyway GL to those STILL waiting. I always thought this investment might help to pay for something important. Looks like it may be my funeral fees!
Tentatively nudging at 132 during the day - I see this one closing up tomorrow.
I agree, Roger Davies seems to filling his boots!
Looks like you have done very nicely on this one! Continued GL!