Morgan Crucible Share Discussion Threads

[shy tott] 18/2/2003 15:39

Chicken I think you're right in saying there's a quick 100% here, just as soon as their loans are arranged to replace the loans being repaid this year. I can't see too much of a problem for replacement loans to a company of the stature of MGCR, but the price has been driven down over the months by those who do.

[chicken] 18/2/2003 15:25

looks like the mms tried a weak effort to shake holders out by dropping the price back a tad.

[chicken] 18/2/2003 11:03

Been in a down trend for a while now. Was down 15% this morning and we have seen a nice turn around > it is now up 3% poss due to news leaking out of an upbeat trading statement to be released and reassuring news re the rumours of a rights issue.

Directors have also been buying - i have bought a few this morning as this looks to have hit the bottom.

[dragonhorse] 15/2/2003 00:26

1,000,000 plus shares 'dropped' @ 36p today so far ... good decision those who held off. High gearing is not pretty prospect in the face of a potentially lengthly synchronised downturn.

[jelfsie] 14/2/2003 14:07

Notwithstanding my decision to hold off buying this is looking strange, and somebody knows something. We are due a trading up date soon and this may be the problem, along with statements about "....we are currently in talks with our banks with regards to re-negotiating covenants......etc etc". We've been here before many times!. Nonetheless, the directors have started to buy shares and I suspect MGCR will get the support for a rights issue if it is required, the question is how much and at what price. Its the collapse in the cash flow at the iterim stage that was the real worry. I will still watch from the sidelines.

[garth] 14/2/2003 00:53

Am I right in reading that brokers forecast a divi of 6-7p this time round?

TIA.

G.

[jelfsie] 13/2/2003 13:14

MMM, me thinks market believes MGCR is going to need a rescue rights issue (refer my post on the other thread). Wait for the finals IMO.

[jelfsie] 13/2/2003 13:12

They may well be forecasting it but they wont get it!. IMO MGCR is heading for a rescue rights issue (like Cookson). Debt at the interims stood at £295M and although that looks Okay against Net Tangible Assets, it looks horrible against Operating Cash flow which collapsed from £100m p.a. to £60M (annualised) at the half year. Banks get fidgety at anything above 3.5 times OCF so unless you are betting on a swift return to profitability expect some desperate talks over the coming months. MGCR needs to cut its debt in half before it can afford the time to trade through back to more profitable times. The general quality of the assets should allow institutions to support a rights issue like they did with Cookson but it will need to give them a very cheap entry into any recovery story to be worth the risk. Wait for the finals, I am!.

[jonny walker] 05/2/2003 08:21

Morgan Crucible - Express reports about tough trading conditons

[jelfsie] 31/1/2003 10:34

Still not buying yet but this (and most other cyclicals) holding up well in the face of the poor market. 2003 could well be the year of the cyclicals but timing is going to be everything as always. Interestingly, all the long term EMA's will be at very favourably low levels at the time of the F/Y results. Any positive news could put a rocket up this one.

[iampoor] 02/1/2003 21:28

oops always suspicious of a quick response ----------- oh lovely site but hold on ............. premium service etc ......... oops .........sounds like extra cost here my friends .........

[thismonthonly] 02/1/2003 21:10

I'm not sure if anyone here is interested or not, but if you are trying to increase the exposure a bit for this stock and encourage more discussion, you might want to consider starting a new chat board for it at Investor's Hub. There have been lots of new UK investors sign up there this month and memberships are free until the end of the month. Here's a link



Hope that helps a few of you out.

[iampoor] 02/1/2003 20:53

a lot of interest recently over past two weeks from the institutions but very , very quietly : looks good for 2003 methinks with everything that is going on .............. am suspicious as to why so quiet ........... am i on the wrong track here or is this about to go places at last ! ( is 6/1/03 an important date)

[tina1] 15/12/2002 15:29

I got out at 61p + i was talking to myself here :o( they found support at current 52p price not long ago back on it now if it gives i;ll look to get back in at 48 or maybe even as low as 42p depending on the prevailing market conditions
IMO

[jelfsie] 13/12/2002 19:56

Dusting off the MGCR file from the bottom draw, having made money on them earlier at higher levels. Will "read up" over the weekend.

[linhur] 13/12/2002 17:52

Worth a punt on the the new CEO if the price drops to 40p.
Presumably it will be fattened up for a sell off at a later date.

regards
linhur

[tina1] 10/12/2002 17:22

Dont be fooled spreads are,nt really spreads! 58/62 is actually 59/61 i think they do this more often than not just to confuse buys and sells so they dont look so obvious.
IMHO

[tina1] 03/12/2002 14:12

More instituitional buying?

[tina1] 29/11/2002 17:18

next stop 80p or 160p???

[yarer] 29/11/2002 14:10

great. brilliant chart.

[tina1] 28/11/2002 20:40

wow more funds buying in this is getting better and better

[tina1] 27/11/2002 13:29

thought so legal; & general bought 290000 shares

[tina1] 26/11/2002 10:08

there is definately some serious money going into this stock!