Member Info for Shurething

They were grossly underpriced!

From memory there was one BUY trade of 1 million in the 0.3 region, all the others were supposed to be sells, but then you can't believe everything you read on Yahoo and on Share Trades on this site. If some were his buys he was cannily building when few others were. Good luck to him - he must be in the know. But he couldn't have offloaded that many at 3 because the MM's battoned down the hatches. They are the ultimate control freaks! Thanks for the feedback.

I think your friend may be 'incorrect' with his 160 grand profit. There were insufficient deals when the price bottomed for him to have that many shares. I bought a few hundred thousand shares at less than 1 p and down to 0.35 p, but still when I bailed out of most of them, leaving a mere 200 k, I had to do so in small tranches at between 2 p and 3.17 p as big sales were not going through. I made about 10 grand! My estimate is that there is no one who made a return of more than 50 grand, and probably few eben at 30 grand. Just an observation.

Not in Notts./ Derbyshire he hasn't! Is that true of the Leicestershire to Nuthall (J21-26) stretch ? If so my internet info. is out of date.

First they announce the A46 widening, then Donington Park upgrade, then today the widening of the A453 Ratcliffe to Nottingham - all just a short distance from Ennstone's HQ. There is also the massive M1 widening programme. ENN might be in trouble, but much in the marketplace is in their favour!

We just don't know and Enn have at least been honest in stating their own confusion over matters. They are repositioning themselves for a potential takeover or carrying on, but their positive move to sell assets suggests that they still see value in the company. Their problems are short-term but all the more imposing because of this. They are like the typical British family - uncertain of their asset values, short of cash, heavily indebted. They are waiting for friendly Uncle Marwyn (or neighbourly Monsiour Lafarge) to help them out, as long as he doesn't attach too many strings. If he does they will sit tight and try to ride the storm alone.

Thanks James. I was out with a mate last night who has been in business, as a supplier, with Ennstone for many years. He is intrigued by the whole thing, but never committed himself either way. Just, like so many wiser ones in any industry, sits on the shelf and waits for it to unravel. He didn't seem unduly stressed by the downturn in construction (or if he is he hides it well) - and he supplies virtually every major quarrying company in the country. Construction, in its broadest sense, is the backbone of our economy and essential to our recovery - probably by way of a shift towards more strategic projects.

Enn could probably never have sold the group as a whole. They have loans on their U.S. assets in the US and loan clauses may have precluded such a sale. Without such clauses it would be easy for companies working internationally to discharge their liabilities by folding their subsidiaries. This depends on how and where the subsidiaries are registered and all the small print. In Enn's case the parent company clearly recognizes a value (albeit diminished) in its subsidiaries, rather than regarding them as lame ducks (if their net value were to be less than the borrowing on them). I don't think an offer is out of the question once all is unravelled, or the company in its slightly slimmed-down form just carrying on.

I think they will be suspended for a few days. They have two big deals to iron out - US and Poland, which will take a few days. They are into a period of self-imposed asset stripping. However, this is not necessarily bad news. I know jamess. believes they could come back to the market virtually worthless, and this is possible. It is impossible to call I believe, and they are just as likely to return to the market up. The asset sales will bolster their cash position but, at the same time, diminish their net asset base. This may be by about 10 million quid but that wouldn't be too bad if this delivered a 12 month plus breather from the banks. Who knows?

Zambia likely to shelve minerals tax By Tom Burgis in Johannesburg Published: January 27 2009 02:00 | Last updated: January 27 2009 02:00 Zambia, Africa's biggest copper producer, appears poised to drop plans to secure more of its mineral wealth. The move could mark the start of a retreat from resource nationalism among poor countries with plentiful commodities. A decision on the introduction of a new mineral tax regime, expected by the end of the week, will follow pressure from mining companies threatening to delay projects and cut jobs after the precipitous fall in global metal prices. As a result, executives and analysts expect the government to shelve a proposed windfall tax when it reveals Friday's budget.

Just wait. you can't do anything. Providing Enn can sell their US and Polish subsidiaries for a decent price, which they should do because of the weakness of sterling, they will recommence trading when that position becomes clearer, and should rise.

Thanks Jonny, and apologies for spelling your name incorrectly. My comment was really a retrospective on the suggestion that there was a 1 billion cash mountain to spend. Marwyn Materials are indeed well-placed, and I wouldn't be surprised if my contact in the sector knows someone in the Marwyn management, although his family have remained zipped about the whole Enn thing. That might be because they are one of the interested investors, having made a few million from the local aggregates business. Wheels within wheels, as they say. The whole thing may have been planned for years, as I was first tipped about Ennstones asset base in December 2002. Who else might be in it - it's a small world in a specialised business with interested parties who want to make tens of millions from this, not just a few grand like us.

Sorry Mick and Johnny. Still not certain about the billion. I think that might be a figure based on old asset values (Sept 2008), unless their two funds are still cash-rich? They will soon be able to buy RBS, but maybe Ennstone are a safer bet! I notice the Marwyn group of companies includes Augean - a hazardous waste specialist and Silverdale - asbestos removal. So at least there is some horizontal integration there. Plenty of prospect to sell on and benefit the group as a whole and return some of our nasties back to nature!

Where does it mention they have 1 billion to spend? I agree that Marwyn could raise more by private placements. They must have to spend a lot of time though, working out the true (potential) value added by Enn if the mop it up. We ARE talking about Marwyn Materials - see their website.

Where does it mention they have 1 billion to spend? I agree that Marwyn could raise more by private placements. They must have to spend a lot of time though, working out the true (potential) value added by Enn if the mop it up.

Anybody know how much cash Marwyn has? Their share capitalisation is just over 20 million which, I presume(as their share price has been flat for months), is roughly how much cash they have. The likely value of a Marwyn bid would, I presume, be not all of that (possibly aimed to be 50% of their cash 'hill' ) otherwise they might end up in the same boat as Ennstone very quickly. Or are they worth more than the 20 million? A 15 million bid, say, would translate to 3p per share. That is probably Marwyn's sticking point. I think Ennstone can do better!

Not necessarily! Following administration each entity (quarry) is open to bids, which may actually put the price up! The value of a hole in the ground is not just in the minerals it produces. It is actually worth more, per cubic metre, for landfill. Several times more!

Hi vannet. Which quarry do you work from? I might be able to offer advice.

Undervalued, good deposit in Quintana, canny management. in Colin Andrew. I have bought and many others 2day. Don't invest too heavily though as a small cloud looms re. financing.

Buy price is now 55 p, suggesting they are moving up following initial rise.