Member Info for McMony

"As if being in the iron ore business in Ukraine was not tough enough, Ferrexpo is now dealing with the fallout of a decision by Ukraine's central bank to declare its transactional bank in the country insolvent. The central bank made the announcement about Bank F&C after the close of business yesterday in this announcement (in Ukrainian). Bank F&C is, Ferrexpo says, "a related party ultimately controlled by Ferrexpo's largest shareholder Kostyantin Zhevago." The company says it is "assessing the situation and will update the market as necessary." Ferrexpo's cash balance was around $280m after the payment of an interim dividend on September 16. "

Does that mean the creditors ask FXPO to repay the loans immediately? Will FXPO forced into quick re-financing?

Think best to wait for near 25p-30p area before risking the capital here...

"Insolvency can be defined as the inability to pay ones debts. This usually happens for one of two reasons. Firstly, for some reason the bank may end up owing more than it owns or is owed. In accounting terminology, this means its assets are worth less than its liabilities."

Hopefully the bank insolvency is not going to affect FXPO's major shareholder's own cash position otherwise he may just reduce his holdings in FXPO and this may create further downward pressure for FXPO sp in short-term. Need to be careful here atm and wait for further update.

"Bank F&C - which is ultimately controlled by Ferrexpo's largest shareholder Kostyantin Zhevago - was declared insolvent by the National Bank of Ukraine following the close of business yesterday. - See more at: http://www.stockmarketwire.com/article/5115625/Ferrexpo-transactional-bank-declared-insolvent.html#sthash.jRxNiWIH.dpuf" So hopefully there is a light at the end of tunnel...

Net debt $653 million per last RNS and now potentially +$173 million cash wiped out puts that total to $826 million...

""We remain cautious in the short to medium term, due to the potential for further iron ore price weakness and the fragile state of the Ukrainian economy."" Bad news after bad news in last 2 months...

Think Sp could hit rock bottoms near 35%-45%, Will wait before moving in...

Nearly $176 million cash wiped out if bank goes bust... What a shocker of news...

Trouble ahead... Hopefully FXPO will get some money back otherwise this will affect everything... profit, dividend, capital expenditure, staff salary, headcount, broker rating etc..

3 month Sp high 48p, so would be good to see if SPH tests that area....

Can't buy atm, looks like MMs moping sells and buys going NT...

http://www.bloomberg.com/news/articles/2015-09-17/u-k-stocks-retreat-as-caution-sets-in-before-fed-rate-decision

Looks like further to climb up if deal is announced...

http://www.financialwisdomworks.com/analysts-set-sinclair-is-pharma-plc-price-target-at-41-86-lonsph/18756/ "Analysts Set Sinclair IS Pharma PLC Price Target at $41.86 (LON:SPH)"

"hares of Sinclair IS Pharma PLC (LON:SPH) have been given an average rating of “Hold” by the eight ratings firms that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is GBX 41.86 ($0.64). "

Sp should climb higher when DOW opens... great takeover news...

Sp hit 1 year high now, will it still climb up? or the news is now priced in?? Trade volume little low to spark my interest atm but CDC looks interesting.

Re-test 310p now that 300p support tested?