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Red88

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Everything posted by Red88

  1. Red88

    ArcelorMittal

    A "BUY" at this point. At 300c per share a bargain. If a stable majority government comes into power this share should move up.
  2. Results are out. Bought a few more as it appears to be positive.
  3. The education system seems to be going through changes. There is a trend towards home schooling and small colleges in some sectors of the community, away from the formal uniform wearing "conventional" schools. Teacher education is in a bad shape and the quality of teachers seems to be deteriorating. The discipline in the conventional schools is going from bad to worse. Yes the private school system is facing an uncertain future but it seems to be a better bet than the state schools and even the old model "C" schools which are going the same way as the majority. Affordability of the private schools is a problem especially in the light of the current low economic activity prevalent in the country. Pembury claim to be more affordable than the groups mentioned above. As far as retirement homes are concerned I have noticed a trend for emigrated children to arrange for their aged parents to join them overseas thus reducing the pool of tenants for these homes. Time will tell what happens to this share.
  4. Am holding on and will do so until the position becomes clearer. Share is in a good market area, education and retirement villages. Downside is the conduct of management. Volumes of shares are being traded at very low prices. As is often the case it may be that someone knows what is going on and is taking advantage of the low share price. Have to see what the annual results reveal but I still think that it will pay off in the long term. Now is the time is to buy if you are confident in the future of the group.
  5. Not too much negativity so far and some trading interest although movement at the low current value gives large percentage swings . Seems like the plunge to 1c is not on the cards at present. Some good news regarding acquisitions will help to spur an upward climb in the new year. Too early to call so I am holding on at the moment - not buying or selling.
  6. Red88

    ArcelorMittal

    An upturn in the industrial sector next year should precipitate a further upward movement of the share price. AM has been strengthened financially by the sale of the interest in Macsteel and should be in a position to take advantage of an increase in local demand for steel products.
  7. Thanks SB45. Like YoungInvestor, I am in this for the long term. If it did drop further I would have bought some more. As long as the business is a going concern there is a strong likelihood of a steady growth. Next year should be telling.
  8. Very little trading. Price unchanged.
  9. Red88

    ArcelorMittal

    Sale of Macsteel interest confirmed today. Shares reacted positively.
  10. Thank you SB45 for the feedback.
  11. AGM is tomorrow. Can't go but interested to see what transpires.
  12. Some movement. AGM has been scheduled.
  13. Yes I agree asking for more money at this time is a no-brainer. We need some consistency and professionalism which appears to be sorely lacking unless they are playing some game.
  14. Presumably the request has been made together with supporting documentation for the suspension to be lifted and the decision is in the hands of the JSE. Should the share price drop dramatically there will be a few eager buyers at bargain prices because it appears the equity holdings are substantial. Wait and see what happens. Should be interesting.
  15. Audited statement has been posted. Hopefully the suspension will be lifted and trading can resume.
  16. It's been a bumpy road let's hope we can trade the shares again soon.
  17. Have they missed the deadline? Maybe they did submit and all will be revealed in due course. if the share price drops and the company has a future - time to buy.
  18. It's still on the board so JSE has not pulled the plug for some reason.
  19. Probably know on Monday what happened. Maybe they did submit on time. No way of knowing at the moment.
  20. Do we have to hold on tight for the rollercoaster?
  21. At last albeit not such good news.
  22. Red88

    ArcelorMittal

    I think patience is the keyword. I was 50% down for a long time and now about 8% down. I think only lucky or extremely talented traders can buy at the right time when the stock bottoms. If the stock performs as it should in the coming year, 18% is nothing. I had a spell with Kumba and it was extremely rewarding.
  23. Red88

    ArcelorMittal

    Yes I think they will and more in time. That of course depends on the recovery of the South African economy which is in intensive care at the moment. AM's market is mainly local and in Africa so it is not much affected by the US-China trade war. Negatives to AM's business are the import of cheap products from China that can be countered by import tariffs and a weaker Rand. A silent killer of the South African industrial capability is the loss of essential skills that is taking place on a large scale at the moment. Significant numbers of engineers, artisans, entrepreneurs and skilled business and professional people in their most productive years are emigrating mainly due to irresponsible government policy and statements and the corruption and poor governance of State Owned Enterprises. Australia, New Zealand, Canada and the UK are sucking up these talented and job creating individuals and leaving a vacuum that cannot be filled by our sub-standard education and skills development capabilities. ArcelorMittal has an enormous latent capability that needs to be brought to life again. Should there be no significant recovery in the economy the company faces closure and there will be further job losses contributing to the already crippling unemployment statistics and additional pressure on social services. The share price will reflect the developments and can well exceed R10 or if the negative forces prevail could drop off into oblivion.
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