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Red88

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Everything posted by Red88

  1. Probably know on Monday what happened. Maybe they did submit on time. No way of knowing at the moment.
  2. Do we have to hold on tight for the rollercoaster?
  3. At last albeit not such good news.
  4. 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.
  5. 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.
  6. Red88

    ArcelorMittal

    Nice upward move today at over 17% to R4.98.
  7. Red88

    ArcelorMittal

    From a low of R1.86 at the end of May to a current R4.25 outstanding to say the least but then only if the momentum is maintained. At this rate may see R10 by year end.
  8. Red88

    ArcelorMittal

    Showing encouraging signs of recovery after the prospect of injection of funds following the sale of the Macsteel interest. In spite of the criticism of AM being an outdated steel producer, in the African context it is indeed a sleeping Giant and an enormously important asset especially in view of the deteriorating Rand value. With patience, some rewarding growth results may be forthcoming after an economic upturn in South Africa. Any comments on this view?
  9. "Hi Please see the SENS announcement made below We are expecting to publish a trading statement with our results announcement very soon and are just finalising and getting BOD approvals etc Riaan" Sounds very nonchalant despite the urgency of the situation. Extremely puzzling. I hope that someone from Pembury takes this matter seriously for a change and we see some action.
  10. What is the consequence of Pembury being removed from the index at zero value? Do shareholders lose their investment and is there any legal recourse against Pembury?
  11. What happened to the financials?
  12. Were the financials completed and sent to shareholders? Time marches on and this stock remains suspended and shareholders funds are tied up. Some update on the situation please.
  13. Cutting it a bit fine. Reputation will take a further knock if they fail to produce the financials by today as promised.
  14. Financials next week if we can believe what they said.
  15. I think it is worth holding for a while to see what happens in the next year. If it takes off it will be worth it but then I am the eternal optimist.
  16. It was suspended due to non-submission of annual financials. Some problem with valuations of properties being purchased.
  17. Seems like this cupboard has more than skeletons in it. Something smells very fishy.
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