nothing makes any sense at the moment. My personal view is that this is a solid company, tied to a long term deal with Eishkom. Their earnings should be stable over the long term. They are being knocked in line with everyone else. Personally, I am staying out long enough and hoping that it goes down low enough to enter with some good positions. In the long term for most people in their 30's-40's, the stock market is playing out very well now to build a good retirement nest egg.
This change in demand,has necessitated a review of the production schedules of Assmang's Chrome Division and Nkomati Chrome operations. To achieve the necessary reduction in volume the following actions have been taken: * Assmang will switch-out two of its Ferrochrome Furnaces at the Machadodorp Works as from Saturday, 25 October 2008, until demand has recovered. Dwarsrivier will continue mining and review the situation on an ongoing basis. Assmang is jointly controlled between ARM (50%) and Assore Limited (50%). * Nkomati expects to reduce chrome ore and concentrate sales, will continue mining the chrome as part of the pre-stripping of the pits for the Nkomati Nickel large scale expansion and will stockpile the chrome ore. Nkomati Nickel and Chrome mine is jointly controlled between ARM (50%) and Norilsk Nickel (50%).
Yes, looking better. Perfect Doji and the Dow green - may see a bounce up to R60 maybe even R65. Think there is still another down leg to come. Nice thing is this share can't really fall that much further - most buyers will find a R30 to R40 price point to tempting. Lots of upside longer term with strong fundamentals. 50 contracts at R45 should return R500k in the longer term.