Manganese Bronze Share Discussion Threads

[the analyst] 02/7/2008 08:49

Sounds dangerous, Simon

[davidosh] 02/7/2008 02:26

Welcome Simon...I am sure you will add some colour to this fairly quiet corner.

My view is that this is a low volume, low margin vehicle engineer that quite simply is caught in a downward spiral of sales set against increasing costs.

The company have reduced new cab sales prices by about 10% from list to attract business but it is still not biting and the new Merc will cause even more distress. If margins are just 3% and you cut top line prices by 10% that does not bode well for the bottom line unless you make drastic changes.

The customers will decide the future of MNGS and in the main they have a long entrenched dislike for the business due to its monopoly position and high pricing.....This is their chance to fight back and vote with their feet by going elsewhere and buying an alternative cab. Prices will probably fall in the second hand market too.

[hammy_davies_snr] 02/7/2008 01:31

I loike teh cut of your jib, Simon.

[the analyst] 01/7/2008 13:31

I guess that even a non-chartist could look at the graph and predict that the share price will drop back to those 200p level it was bouncing around at before.

There just seem to be so many companies in solid downtrends with business models that look like they are going to continue to be hurt by the current economical climate. As has been pointed out, this is one of them

It's probably about time I changed my stance on shorting of shares and started doing it!

[cockneyrebel] 01/7/2008 13:06

Looks dreadfully overvalued imo, while the outlook looks pretty bleak.

CR

[the analyst] 01/7/2008 13:05

Given the Tanfield trading update today, there seems to be even less reason to feel optimistic about the progress being made at MNGS now

The next trading update here could be very interesting

Will you be increasing you long-short position on MNGS/TAN David?

[atlantic1953] 30/6/2008 13:04

David that is a very comprehensive summary and makes good sense.I know nothing of charting but it is not a pretty picture.

Thanks for that

[davidosh] 30/6/2008 11:04

Indeed I am.

The fundamentals seem stretched with too much hope pinned on future manufacture in China. They need to be selling cabs and my research suggests sales are falling by 40%. Competion in the home market has arrived in the form of Mercedes. The directors sold all their shares to a man just seven months ago.

The economy and diesel costs are not good friends to the cabbie. I can even see a profit warning on the horizon so in short ...I am

PS. The chart looks rather ugly too

[atlantic1953] 30/6/2008 10:41

Davdosh thanks for that you are on the button.Scrolling back on here you seem quite bearish on this Company.

[davidosh] 30/6/2008 10:06

The new Merc cab was launched over the weekend in Battersea Park

[atlantic1953] 30/6/2008 09:56

I don't understand how market makers make their prices.On Friday there seemed to be many more sells than buys yet the price jumpe dup very odd...

[davidosh] 11/6/2008 01:20

The share price was going down well before my research posted today and is continuing to go down....Nothing wrong with anyone whether a poster or not asking interested readers over here on ADVFN if they know anything surely ?


And as a lot of people follow you into positions that you declare that probably helps the share price drive lower in the short term!! (Spangler1979)

So long as people do their own research I have no problem with following me but short term is not my concern as I am a longer term investor. This company may be worth consideration at a far lower price in mid 2009 onwards IMO but certainly not at this price in the current market conditions as a forward p/e of 80 is not to my taste .

[spangler1979] 10/6/2008 20:01

"The share price is going down almost everyday...Any news out ?"

"davidosh - 10 Jun'08 - 19:32 - 203 of 203

Very interesting..."

Very interesting (& slightly disingenuous) as it was you (davidosh aka Carmensfella) who posted an excellent bear summary on MNGS today, as Cliffyburger has already pointed out, so I expect you are aware of any news that is going around MNGS!!

And as a lot of people follow you into positions that you declare that probably helps the share price drive lower in the short term!!

[davidosh] 10/6/2008 19:32

Very interesting. As sales of cabs are very steadily fallng I expect the company could even fall back into losses as many of the costs are fixed and they do not own their own property these days ! It would be more difficult to compete with Mercedes in those conditions too.

[cliffyburger] 10/6/2008 18:07

This has been recommended as a short on The Motley Fool by Fool hero Carmensfella, see:

[davidosh] 10/6/2008 16:27

The share price is going down almost everyday...Any news out ?

The Mail on Sunday had a story two weeks ago about a new black cab coming out from Mercedes.

[davidosh] 03/6/2008 18:56

Any news from the Agm today ? Did anyone go from here ? My cabbie last week seemed to be more concerned with the drop in business and financial markets affecting his bigger clients and tips than he was with the condition of his cab and certainly did not intend paying out for a new model in the near future.

Any other news on the streets ?

Any cab drivers that come here that can tell us about the TX4 ?

[crystalclear] 19/5/2008 00:09

The issue as far as investors are concerned is will MNGS make gains or losses in pursuing this project.

I'd guess it is a cheap way for Geely to research electric vehicles. For MNGS it is probably neither here nor there in the short and medium term; they'll surely just be passing over a few can bodies for electrification in return for finding out how feasible and economic it is.

[m.t.glass] 13/5/2008 16:58

cc - on that last point, the initial expectation would perhaps be 'No'. Because even though a more efficient burn can be obtained in the controlled environment of a power station than in thousands of cars at varying speeds, in varying gears, in various states of maintenance, and in sometimes dense traffic conditions, energy loss will occur along the transmission lines.

But take into account the additional inefficiencies involved in producing and distributing LPG (shipping it, compressing it, distributing it, etc) and the equation swings back towards EVs. And who says we should use electricity generated from gas oil or coal? There are other choices.

Anyway - as far as this thread is concerned that whole debate is irrelevant. The issue as far as investors are concerned is will MNGS make gains or losses in pursuing this project. It is up to the cab buyer what source of electricity they use.

[m.t.glass] 13/5/2008 16:45

Here's a website worth keeping an eye on or contributing to. Devoted entirely to taxis

[crystalclear] 07/5/2008 03:22

Do buses and taxis pay our pump prices?
Will electricity be taxed more if it starts to be used for transportation?
Is burning gas for electricity for an electric car more efficient than burning the gas (as LPG) in the car?