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anyone taking a Merafe punt? R540 million in cash and R340m in debt that only has to be repaid in 2012?
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Super Contributor
It feels like I own half the company. Its like having a brother in jail. One is too ashamed to talk about it. Wasnt a good story so far. If you go in now for the medium term one should do well.
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Ja Platsak, I am not normally one to advocate purchases directly, but Merafe really fits the bill for a Buffet style value investment.
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David99755
Contributor
why would IWE be a buy in the long term? I recently took a position on this and was thinking of going in for more...
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David99755
Contributor
why would IWE be a buy in the long term? I recently took a position on this and was thinking of going in for more...
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Super Contributor
About IWE - what scares me about it short term is that a couple directors have sold. That seems silly unless they're just trading out and in, but it's a good reason to be careful for a while. But the general industry is relatively new, with new laws that support it, and they seem to have a great position. They had a bad start because they missed their initial expected earnings, which pushed their price down, but they seem to be doing some good things and acting sensibly to combat the downturn, with some effect. So temporary problems (we hope) with a bright future and seemingly smart management. Any warnings?
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David99755
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Yup, saw the director dealings. My view was that they were taking some profits, hoepfully not too much...I held shares in Enviroserv on the same basis that you outlined Richard - there will always be waste and someones gota deal with this especially with legislation etc. My view is that one buys at the low and holds these type of positions long term based on an industry view. Only warning I would have is if the mgt get too smart and start acquisitions etc which overtend the resources of the company...
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