Member Info for HeadForTheHills

What's the minimum IQ for that back passage.

Miners were on the retrace today and the DOW weakening towards the close didn't help matters. On top of that the price "may" be heading down as the record date nears towards the original 85p referenced in the RI documents.

Hi there The record date is February 13th, if you are still holding these shares on when the market shuts on Friday 13th (unlucky ??) then you will be entitled to the RI. If you don't take the RI then the value of your shares will be diluted in value so yes you will be losing money in a sense. Going purely by their announcement figures your 500 shares could start to trade an adjusted price of 15p, you need the other 6000 shares so you are at parity. The adjusted price is still to be confirmed but it will be roughly ((12x10p)+price on record date)/13 (someone correct me if otherwise) Your options are: Sell some shares to raise money to take up the RI Sell all your shares now and buy after the RI (18th Feb) Do nothing and take the hit hoping it eventually goes back up to 90p (however long that takes) Sell all your RI entitlement to cover your loss Sell part of your RI entitlement, enabling you to take up some of the RI Please check the later two with your broker, as i understand the RI are tradeable if you are eligible but you should confirm this including how to trade the RI if permitted.

The cash point has been pushed the last few weeks though. I take it this is an early play as there doesn't seem to be any news forthcoming, certainly no progress on drilling at present. Looking through the trades it's all PI who have either read this board or advfn so what's the news?

Been following this as well, it didn't do the usual bounce back which i put it down to the falling price and demand of diamonds (any links to spot diamond prices?). RNS confirms this and I'd concur with what ME said without repeating it. Didn't like the statement that they wil be announcing a loss at the end of the year having been in profit at the mid-term.

Yes, in this case 12:1 means you're entitled to buy 12 new shares for every 1 you own at a price of 10p each. To avoid dilution of your shares you need to take up your full entitlement, or sell part of your current shares to cover the costs in taking up the RI. One thing to check as these are nil-paid rights i believe you have the option to sell the rights to the under-writer, banking the money to make up for the dilution in share price. What that price will be and how you do this is something you'll have to check with your broker. Trading price for the new shares on 18th Feb.. somewhere around 15p ((80+120)/13), note though this does not mean the SP is going to drop to this price from now until the 18th. More the adjusted price on the frst day of trading the new shares should be around that price.

Record date is Feb 13th. You can buy/sell as you like until that date but you must be holding shares at market close on the record date (13th Feb) for inclusion of the RI.

Yes they should be contacting you sharpish, though you might want to call them if they don't get in touch by the end of next week.

equivalent to 2p a share i believe http://www.independent.co.uk/news/business/news/henderson-set-to-pay-163115m-for-new-star-1521899.html

Details for the RI have been released over on the CKSN site, record date is COB 13th February with admission to the LSE on the 18th February. http://www.cooksongroup.co.uk/cookson/uploads/agmegm/CooksonGroupplc_NoticeofEGM_290109.pdf

The RI and the the uncertainty around dividend seems to be adding to the feeling that this might be targetted by shorting. Does seem to have decent support around 83 atm. ME - quick question about dividends on a share when you are spread betting, do you open a CFD around ex dividend date and short on the SB side to cover?

Annoying was out yesterday and the limit buy i set was just off a little, all of them where! The debt levels are high but they have two things going for it, number player in the market and they should still be reporting a profit this year even if they have been hit by cuts in the demand for steel. There are job cuts and costs cutting measures on the horizon. Time to get in for now though i'm hoping for a little drop off.

Former engineering and precious metals company they are now the main player in supplying ceramics to steel makers worldwide and are seen as the number one in some of the emerging markets such as China, India and Brazil. Coupled to a slump in the demand for steel a question remains on their debt covenants, they have loans topping out at £1 billion though the bulk of this is not due until 2012 i believe (need an accountant). If they can manage their debt and get through the recession until whenever the demand in steel returns then there is a huge upside. Directors have been buying in at these low levels whether that's to bolster the SP or confidence in the business you'll have to decide. With their debt level it's high risk, but potentially high rewards. Watching the buggers at the moment

The new advfn thread you created based on the email you received or something since then?

I doubt there's any real reason for the drop other than this is a usual cycle with GEMD. It's a good 10% play from here, occasionally drops down to 250-260 levels which gives a 20% gain. There's isn't anything else to suggest it's broken this cycle. You do have to be quick and if you have stop losses set them far enough away. This will just spike up/down 10-15p on a whim and the spread is usually horrible.

Just have to wait for a chance to get out unfortunately, got stuck myself and it's another waiting game. You were knocked either way if you jumped into here though you wouldn't have been as badly down. At least FRES is up a little! Deltaflux, the same happened last month with another person selling half million shares. In some ways i don't blame them if they are making use of the market but it's a little jittery but still holding the other 75%. Been going through the Q3 report and seeing how the glut will affect ENRC. It was released in Oct so there is some indication of a weak Q4, there was some news earlier on SA and their posponement of ferrochrome delivery and what impact this could have on ENRC. They do have number of internal projects going which may offset the demand. Will have to find out if those are still ongoing or postponed in this market. Key point will be how much cash remains from the reported $2.6Billion (less $.8 billion finance). Need an accountant

There's a large 370k late sell off possibly spooked by the RNS of a disposing off selling 2 million shares, have to see what happens tomorrow though it's likely to be down with the rest of the market. Unfortunately the news coming out for steel production are not pretty reading with the miners on the slide thrown in CKSN has been taken with it quite badly!

The spread has been off putting for weeks, been looking to get back here but when you're 50% down before you've even held the buggers it's asking a lot. Perhaps putting people off while they wait for news, unfortunately i can't see Mickey loosening his pockets at the moment.

I doubt the gulf is that much, there are some good posters around that provide technical analysis or are good at the accounts. Which is better in this market is up to you, combination of both seems to be the order of the day. Just lots of reading and grasping at the fundamentals on my part and don't pretend to be anything other than that... Even if it didn't help this morning with the slump. I've tracked ENRC for a few months as one of the stock i'd like to hold long term. Perhaps not up there with the other larger miners but they have good growth potential. Information wise check out news in the sector and keep an eye out for the slew of Q4/Final year results that will be coming out in the next few weeks. The majority will be bad but of more importance will be their projections for 2009 which can give some idea of how long this slump may last. Sites like google.finance.com /co.uk (UK related) marketwatch.com bloomberg for industry wide news and a few mining specific ones for this sector

Beckons unfortunately but a trawl through the RNSs seem positive. The word "cash" flashes quite brightly.