Ferrexpo Share Discussion Threads

[ldrcvm] 01/5/2019 17:28

Yes div is 6.6 cents not p. So about 3.3p after 35% swiss tax

[1corrado] 01/5/2019 16:31

correct so I was right to sell at 225p.

[tygarreg] 01/5/2019 16:29

And you would only get 4 of that 6p as Swiss tax would gobble up a third!

[1corrado] 01/5/2019 15:43

sold all at 225p for the dividend of 6p no thanks as tomorrow they will well go down not by 6p per perhaps as much 12 to 15p then i will buy again.

[g2theary] 01/5/2019 15:37

He who dares wins ey... any below the 200 :) I'm mostly out now 197-127 kept all my profits in shares for the dividend. GLA

[its the oxman] 01/5/2019 15:36

Could we even see a test of 250p near term, some considerable chart resistance above that, but given trading is unaffected and iron ore price is holding steady a rapid rise back to previous levels could certainly be argued for. Not the total bargain it was at 200p but still very cheap.

[arja] 01/5/2019 14:51

wow, rocketing today as most mining stocks hit again !

[its the oxman] 01/5/2019 14:40

Think div is us$ but shares will probably get marked down 6p.

[g2theary] 01/5/2019 13:43

Dividend 6p tomorrow if I'm not mistaken

[bellbottom] 01/5/2019 13:04

Rubicon, I do hope you are correct in your assumption regarding it just being a 'molehill.' Obviously there is something wrong with the figures. If it cannot be easily explained by either Ferrexpo's own investigations or Deloitte's auditing process, then foul play is the only likely answer. I just hope that any misappropriation of funds was the responsibility of individuals at Blooming Land. That's what it is increasing looking like. As you say operations running well. Long term, this is a steal. Holidays enjoy. BB

[crossing_the_rubicon] 01/5/2019 11:13

@Botty "one of the directors who resigned used to be a partner at Deloitte" Indeed. This is the intriguing angle. Just how much info leakage might there have been. I suspect little. Personally feel this "charitable contribution" fiasco is just a molehill. Underlying operations running well and this is just a PC distraction. May is here. Holiday time. :)

[bellbottom] 01/5/2019 10:42

Hi Rubicon, No evidence, you're right. Coincidence? Or maybe there is more news to follow that not so far in the public domain? I certainly hope not. Obviously I have no way of knowing what goes on inside the company but one of the directors who resigned used to be a partner at Deloitte. I wonder what conversations occurred at Ferrexpo, prior to Deloitte resignation? All water under the bridge now of course, assuming that no more bad news on the horizon. BB

[g2theary] 01/5/2019 07:12

3rd day lucky 220 :D

[g2theary] 30/4/2019 11:02

I did say 220 yesterday but I'm extreMly confident today.. I picked a few more up at 200 this morning ... dividend due Thursday :)

[crossing_the_rubicon] 30/4/2019 10:09

"bellbottom30 Apr '19 - 10:06 - 6088 of 6091 0 0 0 Re Jim North and Lotus. 192.6p was the bottom - big difference between 192.6 and 268p that Mawe sold at. As somebody else said on here, happens all the time - it's a perk of the job to know what's coming and to take suitable action to maximise profits." That would be blatant "Insider Dealing" Have you reported Mawe to FCA et al for that then?

[its the oxman] 30/4/2019 09:47

Agree 250p very achievable with some self help re new auditors directors , and if iron ore stays strong H1 results could drive it even higher. Patience required meantime with ups and downs to come.

[g2theary] 30/4/2019 09:46

Another little gem in every sense at the min is PDL I feel that has finally bottomed out. Debt high but cash generative again. With some over 100ct diamonds found. Obviously off topic on FXPO but still in the mining sector :)

[g2theary] 30/4/2019 09:36

Well there were some that sold at 300p usually at milestone £1 £10 mark they can be hard to cross. It's only short term these things matter. If you believe in the fundamentals of the business these are buying opportunities. I myself look to trade these relatively short and keep profits in for yields. These is no reason these shouldn't recover obviously any shock like Friday always forces the price down to a level below value. I'm just glad I didn't buy on the first intra dip on Friday and bought on the second. Below 250 these look well priced IMO I'm looking for a dividend and sell at the 250p mark :)

[bellbottom] 30/4/2019 09:06

Re Jim North and Lotus. 192.6p was the bottom - big difference between 192.6 and 268p that Mawe sold at. As somebody else said on here, happens all the time - it's a perk of the job to know what's coming and to take suitable action to maximise profits. PI's are the last to know and usually suffer the biggest percentage (paper) losses at these critical news nodes. BB

[g2theary] 30/4/2019 09:06

Dragging its feet this... should be over 220 this ... will it come today? It's on the move now.

[pre] 30/4/2019 07:16

From LSE thread..FT article: Hodgkinson89 Posts: 37 Opinion: No Opinion Price: 202.40 FT articleToday 06:53This FT update sums it up quite well and hopefully the BOD will take the steps needed. “The board needs to re-establish market credibility at speed in our view,” said Barclays. It saw as potential actions launching a share buyback, concluding the forensic investigation as soon as possible, appointing a credible new auditor and re-establishing a majority of independent non-executive directors on the board. “Ultimately, we think the main point is that Ferrexpo ceased contributions to Blooming Land in May 2018, the amounts involved are negligible ($10m donated in the first half 2018) and the go-forward cash impact on the business and hence valuation impact is zero,” said Barclays. With Ferrexpo having lost 21 per cent of its market value since Friday morning, immediate action can lift the valuation “close to prior levels at a time when [iron ore] pellet markets are experiencing their most buoyant conditions in 10 years”, it said. https://www.google.co.uk/amp/s/amp.ft.com/content/5e6b4b5a-6a54-11e9-80c7-60ee53e6681d

[crossing_the_rubicon] 29/4/2019 20:00

And TWO directors Jim North 100,000 @192.6p/sh Viktor Lotus 50,000 @ 192.6p/sh Took their tranche of shares under LTIP and didnt sell them!!! hTTps://www.investegate.co.uk/ferrexpo-plc/fxpo/director-pdmr-shareholding/201904291001593878X/?fe=1&utm_source=FE%20Investegate%20Alerts&utm_medium=Email&utm_content=Announcement%20Alert%20Mail&utm_campaign=Ferrexpo%20plc%20Alert What's the big deal??? Guardian is trying to paint it as something else, clearly!!