Member Info for adamsmithfreethi

In my opinion this company is bust and has no way of trading itself out of trouble. A rights issues is out of the question at this price and the share sales say it all. I lost money on this stock but got out at 14p - thank god. The only salvation is if the gold price goes up 50% in the next few months. Good luck with that!

What the eck were they doing buying freehold premises and broadcasting to the world (last but one RNS) when this was coming down the road. I took it (at the time as corporate hubris) and stayed out. Now they'll miss that cash as they batten down the hatches.

How right you were. Seems to me that this and JDG can only grow by expensive acquisition. Bought JDG in their last profit warning and sold them today when they announced (you guessed it) another acquisition. There were some hairy moments but still Mr Market's memory is short. Shares in JDG have risen and popped today. Good luck to them. Not going to buy OXIG unless the shares fall significantly further. The BS looks horrendous!

Well somebody must think company has a future! Not me though...

Sold my entire holding for 705p. I remembered that their core business is high pressure pipes for the underwater oil industry. I.e. the bit of the oil industry that is getting hit most hard with the oil price slump. I will come back to this stock though...

I wonder what they will be like. CAMKIDs recently reported a greater than 10% drop in orders...

A bigger loss than forecast and needing another USD3.5m to get rid of the excess copper. If the bank won't lend then what?

Check out the RNS just out!!!

A sustained rise is only likely once good financials are produced. Hopefully, the worrying rise in receivables will be reversed when the annual results are produced but that is still months away!

Schroders now hold over 10%

Prospective dividend yield of 6-7% plus share buyback with forward looking PE of 6 - what's not to like? Oh yes sorry forgot - nasty nasty coal

I included both for a reason. If debt had gone up then cash would have remained the same. Not good but that would at least have given the company more time to get its costs down or production up and plot a path to solvency. However, the company has no cash and unless it can find a lender it will not have the wherewithal to do what it so prominently highlights at the beginning of the RNS. Funny the cash position was smuggled in at the bottom. Says it all really. At this rate the company will run out of cash by the end of the month. Emergency rights issue anyone?

What I said was factually correct. Did I say or imply loans had gone up? No.

In 3 months net debt up 46 => 50 and cash down 5 => 1. Who will lend them the money to carry on?

That's the point it's not my high street they are on sale at! Have you been to China? If you have you'll appreciate how massive and goegraphically diverse it is. Regional differences are also much larger than in the west. I don't have a clue whether the management know their market better than their competitors but I do know that they know it better armchair experts like me! Or you? Also how well do you reckon Rory's, Roger's or even Tiger's name recognition travels in China? Not much past Tier 1-2 cities I reckon.

Factories cost money. Why do you think Nike, Adidas etc outsource? For me the future is more about brand success and product innovation. Can CAMK and NBU succeed?

You state: They (CAMK) are a different animal to Naibu" HOW??? Three things - (1) They have an empty factory from misreading the labour market (2) No interim divi (3) No breakdown of receivables in the accounts. Apart from that they are like 2 peas in a pod. I'm clearly the thickest person on this Board since everybody else is supremely confident CAMK =/ NBU. Please enlighten me

Is to see whether there is anything more behind the fall in sp other than a complete but (as yet) unsubstantiated collapse in confidence. If the former I sell if the latter I stick.

what the real substantive differences between CAMK and NBU are? Their similarities are more apparent than their differences.

I've checked other dividends I have received and they all appear to be posted to my account 1-2 working days after they were meant to be paid. Good old Barclays!