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Online Share Trading

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Giving the share away now?

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Newbie
Contributor
I see we are down to 45 cents today! The dividend was 39 cents! If they pay out another special dividend for the full R150 million they will most likey get from Keller, it would mean the share is at 6 cents!!!! I own too many to buy more, but come on, this company has been around for years and I can't see them going belly-up anytime soon.
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15 REPLIES 15
cheapcheap
Regular Contributor
I agree,i also own alot and will keep them long-term,I read through their last results yesterday again and it's really NOT that bad.Hopefully they can make a decent aquisition to make up for the geotechnical side...they say that the profit on it was standing still and margins on the pipeline side of the business is doing very well... but ya the market sets the price.....
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Not applicable
its the risk associated with them having screwed up a project pricing - or projects running over, penalties imposed, etc. They have no cash - which construction companies usually keep as a buffer - and they have no margins to work with to absorb such risk. So, if you really trust their due dillegence and capability - go for it.
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manere_fortis
Frequent Contributor
38c Eina. The market can remain irrational longer....
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Newbie
Contributor
This price I can't believe! 38 cents! That would value the company at R150 million in total! Their equipment is worth double this amount! I bought another batch of shares....sold my Anglo American shares to do this. Hope I got this right or this will change my portfolio to "eina"! Anyone else see the light?
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THRESHOLD
Super Contributor
1,25 BILLION short term debt. R800 000 of possibly (probably?)dodgy debtors. This looks like SANYATI all over again. Please be careful.
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Newbie
Contributor
Thank you for the feedback. I always invest carefully. Sanyati was a bad situation, but their NAV was basically nil. Esor has a good NAV, but your point is taken. I will keep an eye on the share, but wait in anticipation for the results due in May.
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THRESHOLD
Super Contributor
?? Sanyati had a NAV way in excess of her m.cap. . Her outstanding book proved uncollectible and she choked on the lack of cash flow. ESOR is primed for this outcome too.
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THRESHOLD
Super Contributor
?? Sanyati had a NAV way in excess of her m.cap. . Her outstanding book proved uncollectible and she choked on the lack of cash flow. ESOR is primed for this outcome too.
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Newbie
Contributor
I don't think Sanyati and Esor can be compared that closely although I did see some similarities when doing my homework. If you look at major shareholders in the company they include Sanlam, Coronation and Investec. Not small companies that invest millions without looking at the books closely! Sanyati had no interest from major investment firms. Esor used the extra R350 million to pay down some of it's debt and should get at least half the R150 million Keller has agreed to pay contractually according to the results over the next 36 months. I like their order book and the CEO put's his money where his mouth is. Let us agree to disagree and watch the next set of results due in May. I think they will be a lot better than the disaster the share price is predicting. If I am wrong, no new car for the wife this year!
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THRESHOLD
Super Contributor
The market is telling you something. SANYATI also had its fair share of supporters. RISK / REWARD. I wouldn't touch these things with a barge pole but then again - perhaps barge poles can provide leverage...
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THRESHOLD
Super Contributor
The market is telling you something. SANYATI also had its fair share of supporters. RISK / REWARD. I wouldn't touch these things with a barge pole but then again - perhaps barge poles can provide leverage...
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Chopchop
Contributor
Trading on a PE 3 now. Priced for bankruptcy?
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Newbie
Contributor
I hate to say it as I have a lot of these shares, but at 35 cents, which is less than the dividend paid out late last year, it values the company at about R135 million. Either it is the buy of the century, or there has been more loss-making contracts and bad debt which is going to sink them. If there was no reason for the drop in price, you would expect some sort os sens news from the company to give the shareholders some comfort, which old Mr Krone has not! I will say a little prayer tonight for both of us! For the record, I am holding on hoping for the best!
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jamoo
Frequent Contributor
Could this be the beginning of the end? i thought it would hold at 42c because of the large volumes. i am not buying more at this stage, just hold tight it will probably turn around. there is no reason for panic selling.
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Newbie
Contributor
I own 600 000 shares! I wont sell in a panic, but it doesn't mean I am not in a panic! I saw one of the non-executive directors resigned. Also not a good sign! Hold on tight and hope I guess!
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