Member Info for Daisydog

CYB. 100% agree. It's 18 months since this was first mentioned by the BOD and it's completely unacceptable that there is no definitive progress or timetable. Very very poor.

Try telling that to the bank when you want to use it as security against eg a mortgage.

Fara. It really is a ridiculous comparison as you select the start and end points. From 48p to 11.5 p in 2 years is an annualised loss of around 50%. I and many others bought some st that price.

Sanchez, they cannot have been inside all the time since the last director buy many years ago.

Really feel they are now guilty of very poor management of this situation. Fortune might have pulled off the purchase of 2 great assets , but it could be argued they were from distressed sellers making it easy for him. The fannying round with the JSE listing, unexplained fall out with large shareholders and secrecy ( eg round YD and now % ownerships) have badly damaged credibility. And don't get me started on the lack of director buys.

Excellent factual responses Pdub. Well done.

Brilliant and carefully thought out response to the rubbish posted. Well done Pdub.

Any note of whether this has affected the proposed dates of contract awards?

Has this affected the proposed dates of contract awards?

Sanchez, agreed its ridiculous. But i fear this is now going to drop steadily whilst GS offload the rest of their shares potentially over 2-3 months apparently oblivious to losses. However irrational that might seem. And STILL nothing from BOD. Explains why they haven't bought any themselves - they must have known GS were selling.

Guess having a large known seller blows the naked short theory out of the water anyway.

Tones. Laudable sentiments but if figures cited in 06.16 post are correct , selling all at the rate they were doing in August might take 2-3 months? That would extend even into the period of possible award of ESKOM contracts. Personally, I'd like the BOD to come up with a solution that closed this off rather more quickly.

The how of the selling is secondary to the WHY and especially the WHY NOW. What do they know . Or what do they disagree with the BOD about - as the voting against theory seems credible.

7 years I've been in here...hardly short termism

For me thats the hole in the "IIs want in and MMs are facilitating this through suppressing SP" scenario. If an II wanted in, they could just buy the 38m off GS at 12.5 and be done.

..but no TR1?

...its also the LENGTH of time that this has been going on for that is difficult to explain. They would need to have built a Leesonesque short by now.

Sanchez. I'm probably stupid, but explain it to me. As far as I can see, there are very large sells on a daily basis. If real or as part of a naked short, how does that assist an II buying in ? At some point you would have to buy all of these back at a loss? Who funds this?

JMC. Great analogy. But i wouldn't be able to start to explain how/ why the company would know exactly what is going on and be complicit in just letting it ride out. The Duferco conversion will involve very significant dilution at this price. It will then leave us open to months of "orderly disposal". I dont think Alfa is necessarily correct that they would want to hold. Fortune and BOD could prevent that by announcing a small "exceptional" dividend on the shares late October. There are other things which have been spectacular own goals. Near 16 months since JSE listing noted. Nothing on Imaloto. No BOD buys for years even when the SP languishes at a price that makes no sense. I'm increasingly fed up. FM may be a great deal maker but there are increasing concerns about the rest of the management of the company.

UKSG. Maybe. But they are clearly not able to do anything about it at present and FMs comment " we can and will do something about SP" made some months ago is looking a bit thin. At least he didn't say imminently...