Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
Does anyone on this board really believe a share can drop over 10% in a day (even in this market) without something more fundamental going on in the background?
I'm no expert by any means but this is stunning. I remember people here buying in when this was close to 200p to reduce their average and I thought they were better educated in the market than I am. I also topped up with a few on teh way down but the recent daily percentage drops and volumes have me thinking this is not donw yet. Slightest bit of bad news and we are dead!
Given teh compay's position now (order book, low debt etc.) whats everyone's opinion of a "fair" market share price?
Grapeboy
There may be something in that but i personally dont think it is causing this massive drop. Wood has a nice diversity of services. Wood are out of favour with the market - too many surprise over the last couple of years, CEO change, no clear strategy (yet!).
New CEO must be wondering what he has taken on! He bought in heavy from the get go so feeling financial hit on teh drop as well as the inevitable pressure from the BOD
Dagenhamdave
Im in exactly the same place - thought about getting out a few times over the last two months or so but I'm still in and staying in. Whole market is a gamble at the moment although granted this one is probably amongst the worst.
I think its pretty bad they have completed the sale and arer waiting until late November to clarify what exactly they are doing with the proceeds. Market worries there is more bad news in here and needs some confidence building news just to stabilise the price
By the time they role out their strategy next month this will be around 100p and even great dnews and delivery will not move this sugnificantly to the upside.. Many on this board will say the whole market is down and thats true but this one is just tanking. You need to be prepared to hold this one for a very very long time ot get any sort of meaningfull upside.
Of course just my opinion and there will be those on here who say I am just pessimistic but they were saying that when it was close to 200p and I was posting it had a long way to go.
There must be something in the background here - this one is falling alomost daily and not by insignificant amounts. They must surely be on teh radar for some acquisition hunting company at this level and with teh exchange rate they are an even cheaper buy. The BOD should surely be concerned at this movement and still nothing being issued. By the time of the CMD ion November this will be in the gutter. Cant believe any company take this long to develop a strategy and bring it to the market. Something definately amiss either way
Sale didnt do it much good did it. I know the market is in teh pits at the moment but this one cant get a grip.1.8B in teh bank and its still dropping!
Looks like teh market already priced in the "good news" of the sale and dont like what is not being said about what they are doing with the proceeds. I know its crazy but cant see this moving in any sustainable way to the upside any time soon.
Nacho
All good points and nothing in your post I can take issue with.
However even with all that said i still believe there is an undercurrent to this share driving the price considtstently lower at the moment. This was at around the 250p mark on teh back of the sale announcement and other than the a few days up here and there its been on a downward slope. Either confidence in teh ability to complete the sale and deliver on teh new strategy ebbing or there is something more fundamental at play.
Testing 52 week lows a few months after announcing the sale and two weeks away from tehir anticipated completion date is not good.
Starting to wonder if there is news in teh background here about the asset sale. I cant see any other reason for this going south at the rate it is. Am I missing something? Two or so weeks until they anticipated to close on teh deal - shorters not moving and price again heading down towards a 52 low. Really struggling to understand the market sentiment on this one
This one is always "waiting" for something to make a move to the upside. Meanwhile it just keeps dropping so in the event something comes along the potential upside from here is really limited. Every day seems to be a down day - market up Wood down, Oil up Wood Down.
If this does not move on completion of the asset sale which I think they intimated would be complete in Q3 (ie this month) then its got to be ripe for takeover