Hi Runbird,Looks as if no div is to be payed this time round,but an interim next time.In my case have decided to sell and invest else where.If u take a longer term veiw (two to three years) this share is going to shoot the lights out!As i buy shares and usually sell ex-ldt.(from oct on will have to rethink my stratergy).This company is still organising itself,i'll look to going back in in four months time.
EXX is the 4th largest coal miner in SA with projests in line which will make it the largest by 2014. Currently producing 43 mil tons which will increase to 78 mil tons by 2014. SA wil need at least 2 powerstations per year after 2010. No doubt that there is a market for their product, just a question of good management and cost effective mining. If one can pick up this goldie at the bottom - first prize !
Update: Sold Exxaro today at 6750. I may love Exxaro and think it has great potential etc, but I couldn't stand to see my profits declining on the back of this share falling the way it did. I could re-enter at the current level of about 6500 if I thought the share was going to go back up to 7000 in the short term, but this I cannot say? However, my updated software this evening shows a negative move in the PE Ratio from 6.89 to 12.09; the DY of 5.08 to 2.75 and the EY of 14.42 to 8.27. This does not bode well. 1.Really disappointed in Exxaro's CEO and Management for not making the proper announcements and trading statements earlier in January. 2.My question to Exxaro or the JSE, whoever is responsible, how could they have dropped the PE of Exxaro in January from 15,77 to 5.41 with no trading statement? Were they using Kumba's earnings and if so why? This is actually BS if one has to analyse the situation. Some people may have money out of Exxaro like I did although I had to short a bit, but what about the people that saw the good PE and bought when the share was trading at 7500?????
Good point, i thought UPDATES WERE COMPULSORY ,many companies now seem to neglect or issue them at the same time as as the share declaration.i made a good capital gain when i sold mine.com'n JSE ,don't b'come sloppy!By the way over the last couple of weeks i bought JSE itself,a good autumn buy!