Eurasian Share Discussion Threads

[careful] 25/3/2013 10:15

i agree with all of that cfb.
guess i have a very long term approach.
if i can buy assets almost half price I will buy today.
a temporary setback in metals prices, themselves subject to traders whims, will not phase me.

i am increasingly fearful of the alternative of devalued paper cash held in banks.
admitted the like of ENRC are high beta, high risk.
but i want some risk in my portfolio.

[cfb2] 25/3/2013 09:55

Quite the opposite, I've just closed my short. I'm polite enough to leave something for the next person. The recent rise was fuelled on bid speculation. When it was quashed it was a no brain short. I'm waiting for the share price to stabilise before going long again and that's related to ore prices. There are contracts in place that lose ENRC money at current ore prices. Shares on loan don't appear to be increasing and if the price gets too low then their assets will make them open to a bid approach again.

CFB

[careful] 25/3/2013 09:17

still falling today.
an interesting situation.
enrc made a decent profit recently.
then they wrote down assets by $1.5bn (to 11bn.)
this was a non cash item, but drove the company into a technical loss.

i suppose the traders now see this as a no brain short.

[cricklewood] 25/3/2013 09:00

PAPAL


LOL

[shugsy] 22/3/2013 11:16

Good luck!!

[careful] 22/3/2013 10:55

just topped up at 2.91.

its my system that i worked out.
i keep buying on the way down, thus reducing my average price.
i keep doing this until my average price is below the share price.
...brilliant.

[careful] 22/3/2013 10:04

a target of 539p.
that would do nicely.
about right actually for a 'normal' mining company with enrc figures.

[cricklewood] 22/3/2013 07:32

Once PAPAL starts posting on a stock its doomed.

[careful] 21/3/2013 12:41

cfb2
if you take up the rights, or even sell them, there is no dilution at all.
this is a misunderstanding.

even millions of extra shares at say 10p each would make no difference.
do the calcs.
you will own lots more shares and the price will come down depending on the cash raised.

..still, knowing the mechanics of rights issues has not stopped me getting creamed on this one.
i will shut up.

[sirgainalot] 21/3/2013 12:32

Rights issue will be done at a discount to the current share price.

If you're looking for a means to recuperate losses - look at GBO.

Great company with results out next week. I will sell it to you, just take a look and it will definitely be worth your while.

[5bag] 21/3/2013 12:07

Nearly back to where we started from. And clearly demonstrates how using stops can be a good idea.

[cfb2] 21/3/2013 11:25

and why should a rights issue cause the shares to fall?

Because the value associated with each share is likely to be diminished as the shares will be issued at a discount to the current share price.

people are dabbling with investments that they do not understand that is why.

Clearly.

CFB

[careful] 21/3/2013 11:13

you could be right.
an obvious short.
got this one wrong, 9% down in less than 1 week.
the value of the company has not changed though.

i will take comfort from warren buffett.
his investments have halved 4 times over his lifetime.

and why should a rights issue cause the shares to fall?
people are dabbling with investments that they do not understand that is why.

[sirgainalot] 21/3/2013 10:48

This is going to 270 at least!

No more support.

Just wait for the rights issue.

[shugsy] 21/3/2013 10:12

Needs to hold that key £3 mark otherwise it'll be a quick fall to the next key support.

[shugsy] 21/3/2013 08:36

Euro zone manufacturing missing estimates by a long way.

[and1] 21/3/2013 08:32

People still think of miners as a risk-on trade. However with current valuations of many, below book value, i see it more as a value trade or a risk-off or safety trade as their market cap is supported by hard assets not air as many of the risk-on companies. it seems to me the place now to be, as they are at a very low valuation compared to market which is nearly at an all time high

[careful] 20/3/2013 12:22

i have taken the trouble to look at todays consolidated balance sheet.

the nett borrowings are as you say $5554m.
total liabilities are $8188m.

but set against this are $20164m of assets.
(up from $15516m last year).

the borrowings are up from $1234m last year, but even after the $1500m writedown, the assets have increased considerably.
..and so they should with the investments made.

the net assets of $11bn+ INCLUDE THE DEBT.
this debt is below most other miners as a % of assets.