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Online Share Trading

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Sentula Mining

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Jechlojoes
Contributor
Hi there. Does anybody know the reason behind trading stopped in Sentula shares. I hope there is nothing fishy happening here. Jumped in @ R11. Results yesterday also promising?
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10 REPLIES 10
Russ
Super Contributor
I think there are problems with their financial statements.Heard it mentioned on summit but don't know the details.
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SimonPB
Valued Contributor
The official line from the JSE is that we are waiting for an announcement from SNU.
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JohnnyCash
Super Contributor
This in an article on the web might point to what's up - Sentula Mining has embarked on a rigorous "house cleaning" exercise, and will in two to three weeks have the findings of an internal investigation into the events that led to it having to restate last year's financial results. Chairperson Sam Jonah said that Sentula was also fully committed to cooperating with the JSE and the Financial Services Board on their investigations into the company.
This was reported last night.
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Not applicable
Halted related to the roadshow that management is on where they made some comments about future earnings that can be regarded as a profit forecast. JSE wants them to make this public before starting trading again.....Seems to have traded this afternoon though but no annuoucement
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platsak
Super Contributor
See sens with earnings forecast. Anyone following this share. Is thsi an opportubity to enter?
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Bushbaby
Not applicable
Id climb out boots and all.... they are trading at 14pe whilst their peer company Eqstra is at a 7pe. I think Eqstra is a far better buy with MCC Contract Mining in its stable.
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Jechlojoes
Contributor
I Agree with your fundamental analysis, unfortunately Sentula is the flavour of the day and sentiment is what counts. Short term gains prospects looking very good.
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Jechlojoes
Contributor
I Agree with your fundamental analysis, unfortunately Sentula is the flavour of the day and sentiment is what counts. Short term gains prospects looking very good.
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barry_1
Super Contributor
Yes Platsak,they are pulling themselves together after issuing the wrong results,poor management decisions and not enough "hands -on" management,now they are correcting this as they are a three billion capital company they are likely to do things better in future.I think this share will double back t6o its old price by next year.They also are running coal projects on their own as well as in conjunction with Merafe.
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striker
Super Contributor
Creditability is a sacred issue for a listed co.Blow it just once, and it becomes extemely hard to win it back.You got to question the poor management .
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