Metalrax Group Share Discussion Threads

[jeffian] 15/1/2013 17:00

The trouble with very wealthy men is that they have their own interests at heart, not yours. Time and again I've seen PI's follow wealthy men into basket cases (Jim Mellon at SYG, Reuben Brothers at ULG, David Ross at Cosalt....the list is endless) and on each occasion, the wealthy man has ended up owning or controlling the company and the minority shareholders have been stuffed. Beware.

[electronica] 15/1/2013 16:40

well choppa ................ one very wealthy man (almost certainly with a supporting view from the BoD) diesn't think MRX is a zombie.

[choppa] 14/1/2013 21:42

The banks arent going to want to have the company breaching any covenants imho due to the fact that the banks wouldnt want to lose the money that has been lent. Like i said before has all the classic hallmarks now of a zombie for the next couple of years. Shame really.

[charo] 14/1/2013 09:08

can we take it that the shares under the ltip scheme will not be awarded,the board needs to be firm in this regard.

[charo] 11/1/2013 18:00

electronica believe me when i say there will be extensive covenants and they will almost certainyl breach.for an example of such a situation look at straight and its rns releases from sept 2010 till june 2011,when finally came clean on breaches and the bank went to the wire before signing off in june 2011.mrx have some good revenue generators but bank must be getting concerned,asset sales had reduced debt but further losses and now increasing rental costs, restructuring costs,with more to come,will be causing concern.will be happy to put my hands up and admit if wrong but do not expect positive news.

[meijiman] 11/1/2013 16:28

Electronica ; Yes my comment was on balance intemperate and clearly if an update is pending then it will be worth waiting for. I just get a sense of drift here-for all I know management may he happy to spin out the cash preservation and muddle along keeping themselves in a decently rewarded job for a few more years.
I think some difficult decisions need to be made here to get this company back on track. It would be nice to see some Director buying POST the RNS.

[electronica] 11/1/2013 15:46

charo

From the 24th Feb RNS this year .............

"The facilities, being mainly provided by the Bank's asset based lending team, are secured against the properties, the debtor ledger, plant and machinery as well as inventory"

No mention of covenants & the asset backing will currently be more than OK for the forseeable future.

We'll get an IMS next week if MRX follow last year's pattern - let's see what that brings before shooting in the dark.

[electronica] 11/1/2013 15:46

charo

From the 24th Feb RNS this year .............

"The facilities, being mainly provided by the Bank's asset based lending team, are secured against the properties, the debtor ledger, plant and machinery as well as inventory"

No mention of covenants & the asset backing will currently be more than OK for the forseeable future.

We'll get an IMS next week if MRX follow last year's pattern - let's see what that brings before shooting in the dark.

[charo] 11/1/2013 15:30

Bank will be conditional on extensive covenants almost certain to be breached.

[electronica] 11/1/2013 11:24

merijiman

What cliff edge?

Banking facilities in place for a further 3 years & cash flow was still positive at last report. They can survive with marginal negative cash flow (& worst case won't be that bad) for a good couple of years yet. That's enough time to get the bakeware problems sorted.

[ermerise] 11/1/2013 11:06

what is the point of selling 10,000 or less @4.25p

[meijiman] 11/1/2013 10:47

Management seem to be sleepwalking towards the cliff edge. they should certainly be buying shares unless of course they know its game over........

[choppa] 03/1/2013 18:25

My mistake. 4 years of what tho.

[ermerise] 03/1/2013 11:31

see statement on 24th feb.2012 funding runs for 4 years

[choppa] 02/1/2013 22:01

An interesting post but I feel that this one doesn't have the legs in it for any meaningful recovery. Its funding runs outs next year i think at which point the banks could pull the plug imho. Has all the hallmarks of a zombie with no adding value and just barely treading water. All imho of course.

[pvb] 29/12/2012 18:50

Thanks. Interesting.

[maltatrader] 24/12/2012 09:00

would be interesting to see if Tom Anderson grabs up a few more at below 4.75 today.

[pvb] 22/12/2012 16:06

Interesting. What does he see that we are missing?

[meijiman] 22/12/2012 15:14

he might be over 80 but Im sure he could do a better job than the present management.

[choppa] 22/12/2012 12:18

Another purchase by Thomas Anderson I see over 4% now. Not sure what his angle is here.

[pvb] 14/12/2012 17:48

Going to look good on his CV then...

[charo] 14/12/2012 17:32

and manganeze bronze remember famous london taxi mnftr.

[pvb] 14/12/2012 15:41

Andrew Walker is Chairman of Metalrax - I guess that this is news to you.

Yes. But ANDREW WALKER was not mentioned. Except by you.