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Online Share Trading

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mmg

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Russ
Super Contributor
Funny how the price doubles in the 2 days before the sens comes out.
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12 REPLIES 12
topgun
Super Contributor
Nothing sinister here...Dave King's much trumpeted comeback at the helm of MMG will obviously herald a new round of corporate activity and a repositioning of the rather unfocused collection of businesses. On a personal level, he obviously feels the need to redeem himself and to re-establish some credibilty with the investment community which is a rather tall order after the Specialised Outsourcing fiasco. But greed might win the day and push this share significantly higher since he aims to build a R1bn company...and he has his followers.
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striker
Super Contributor
- Would'nt touch anything where Dave King is involved - people have short memories. The man is a looting scoundrel.
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CHATTYCHAT
Super Contributor
Ooops! This can cost you!
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striker
Super Contributor
.. mmm- you mean like it cost all the shareholders in Specialised Outsourcing ? How does he even become a director considering the tax evasion charges ?
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geordie1
Super Contributor
re tax evasion issuE I have read some of the issues avaiable in press and I Think SArs may be incorrect omp.
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striker
Super Contributor
I'm not sure if SARS claim was correct,but bear in mind half their claim was penalties for false declaration of income - geez the man is worth well over a Billion bucks and states his income for that year as R48000 !! He milked the system and shipped hug sums offshore.
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Plonky
Super Contributor
Agree...this guy is a crook...I lost a lot of money believing in him at Specialised Outsourcing.
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striker
Super Contributor
- howzit Plonkers - coining it on KIO are we ?
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topgun
Super Contributor
Well, as things current stand, King has reached agreement with SARS to pay them R636m in full and final settlement...but the NPA is still after him which precludes implementation - he clearly doesn't have the "right" political connections! The point though is that he controls 30% of MMG, a company with a market cap of only R220m (after having doubled over the past 2 weeks) - and he is probably worth 3 times more even after the settlement - so, there is a lot of cash behind the company...and he is motivated to redeem himself...
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striker
Super Contributor
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Plonky
Super Contributor
Hello Mate.....Yes, Kumba has been doing well for me. Exxaro and Metorex are also showing lots of potential...I am hoping for a juicy dividend from Kumba next month.!!!
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topgun
Super Contributor
You are right on all counts...but he also made his mates a lot of money - Barry Adams, Nic Davies etc. - my point is that while some exceptionally naive institutional fund managers were badly burnt, MMG is probably going to double over the next 18 months and greed will again suck in a lot of roadkill...I am no admirer, only making an observation and betting some money on the psychology of it all...
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