I'm with you; I will continue to hold what I have. If it goes super low (in the 2's) without any negative public news, I may pick up some more, but otherwise I'll be content if I make something on my current holdings and not suicidal if it all disappears.
Oh what's a little hydrogen sulphide among friends?
OK, back in the doldrums again I guess until the next round of news - what's the next milestone? End of March, something to do with the results of the financial reorg?
Old news at this point - and the write down was most likely a requirement of GAAP, not necessarily a professional judgement... although having said that it would certainly be professionally prudent at this point to write down such an asset....
Does anyone happen to know the next milestone/date for TALV that we should be expecting?
Does it matter :)?
Good on ya; wish I had some spare change to pick some up right now.
As I believe I've mentioned before, the best option for the debtors in this case is to trade the debt for convertible bonds - bonds that convert to equity at a certain share price. The question is what the strike price will be; as soon as it hits that number, the bonds convert, current shareholders are diluted, but no more debt. Don't forget that the value of a company is its equity PLUS debt. If that's currently a fair valuation (open to debate), then the share prices are very likely to jump despite the dilution.
From that article: "The report suggests that the magnitude of the accident was exaggerated by (the media) calling it an environmental catastrophe – a view that was backed up by NGOs and civic movements, who staged many demonstrations. The Safety Investigation Authority denies that this was a major disaster that would have threatened people’s health."
I am also getting the impression that someone is shaking this tree to get the price down. But I could be wrong... in any case, I got in so low that even at 4 I'm fine.
Personally, I think it has to do with people not wanting to wait so long for the news that might result in the uptick - they want to place their money elsewhere for the next two months; probably feel that it won't go anywhere between now and mid-March anyway, at which point they can jump back in.
As far as I can tell from google translate, this is actually a fairly optimistic report just out yesterday from Solidium (the state-owned Finnish investment company): http://www.kauppalehti.fi/etusivu/solidium+talvivaara+on+salkun+erityistapaus/201401613365 On the other hand, this article says that the current Finance and Administration Manager at Talvivaara, Tommi Talasterä, is leaving. I believe it says he's going to work as CFO for a regional administration. Good? Bad? I don't know - could just be s shake up from the ongoing changes and discussions rather than an abandoning of the ship. http://www.savonsanomat.fi/savo/talvivaara-paallikko-yla-savon-soten-talousjohtajaksi/1759749
Well darn; I wish I had managed to move some more into this last week; I don't see it going into the 5's again until a resolution is reached... and if it moves into the 5's at that point, I wouldn't want to be in it anyway....
Corbs, thanks but no need; I thought I'd throw that up here as it's a recent article; personally, I'm wary but i do see huge upside in this stock for less risk than some might take with other companies... I got in at 3.4 with an amount I'm prepared to lose, so it's all smiles with me. On the other hand, I'm looking at liquidating some other shares in order to buy more talv now that it's below 6, but if I do that, I would not be ok with seeing it go belly up. There's just no amount of legal available info that's going to remove that hand-wringing.
http://yle.fi/uutiset/prosecutors_considering_case_against_talvivaara_mining/7025204
Given the type of creditors (not to mention shareholders) and the amount outstanding, I'm convinced that this will not be allowed to go belly up. I'm relatively sure that we will see the debt converted, with only the strike price being the sticking point. Yes, it will dilute shareholders, but at one point in time the value of this company was that debt plus the equity at whatever a share. IF this deal gets done, I'm expecting a significant rise, perhaps 40p.