Australian (ASX) Stock Market Forum

SSS - Sam's Seafood Holdings

Status
Not open for further replies.
Jump to new
Dowdy

Dowdy

Joined
18 August 2008
Posts
560
Reactions
2
Just want to know what everyone thinks of this stock. It looked like it crashed early this year, but why?

Should this be one to watch or stay away from completely?
 
I thougt it went **** up years ago this is the Sams in Brisbane you are talking about is it ,very doji crew if it is they burnt this mobcat first hand :banghead:
 
I actually had a look at this stock back when the stock was plumitting and the audit report came out in July I think it was...

The short story is:
- SSS was placed into administration in 2005
- Not much happened for a couple of years (other than ussual when a company is placed into administration)
- Company underwent a restructure and recapitalisation process and was reinstated on the ASX in August 2007
- Underwent more recapitalisation and only recently had their price reinstated

You would have to be a very brave person to invest in this company given it's history...I haven't read the perspectus (if there was one when they recapitalised), unless that had some sort of carrot in it I wouldn't be investing my money.

One thing you have to look at is that no one from the previous management/directors from when it went into administration....but still too risky for my blood ...what are your thoughts Dowdy?
 
Lol - the name alone sounds dodgy.
Reminds me of Seafood Online that was floated in the tech boom and soon went belly up.
 
I was sorta thinking along the same lines, they do look a bit shifty and their net profit margin is -1465.79% for the DEC07 quarter.

But i'm one of those guys that likes the metals, agriculture and food since i reckon they'll have the best medium/long term growth and there's not too many seafood stocks out there
 
I've never followed this stock other than hearing around the time of receivership that the reason was because of general dodginess.

The Sam story (as far as I know):
Sam's Seafood had been doing well for years in an affluent part of Brisbane, it got floated, then 'Sam' sold most of his interest during the initial flurry of buying and then they expanded into hole-in-the-wall burger joints which noone went to.
The entity went BROKE and 'Sam' made a MOTZA.

This company has bad karma.

Good seafood though. :)
 
Sam's seafood was quite an institution in Brisbane back in the early 2000's. I remember lining up to buy prawns in their shop on Xmas eve, when they were open for 24 hours...

The new stock may be worth considering - if they offer shareholder discount on buying seafood!
 
well things are looking great on my chart. seems like new directors are finally doing something which might have a good effect on share price. new stores are opening across Australia again & with xmas season on its way more revenue will come in.
People on other boards are talking about a major supermarket chain in NSW showing some interests in sams products and so on......

overall wouldn't be surprised if we see some more movement in coming days!
:rolleyes:
 
The next NSL and CAG. The Faldi guy trying to get a recap running if it`s by hook or by crook.
One of these will be a winner surely?
 
Could be all 3 Bingbarrell. Watch out real soon for an announcement on NSL. SSS still in its infancy but worth a position on my watchlist.
 
sams seafood

any one been watching this one spike-up 44.4 % 1/9/9
well done xplod,i see you picked it for september stock pick
 
Sams Seafood SSS

Could not find a thread on this but did think there was ?

This post is not a ramp because I have it in the stock tipping. In fact because I do I have, have held back from posting on it.

Sams Seafood has undergone a huge change from the old days, all the duds have been kicked out and the new regime are focused on a quality coal deposit at Kalimanti,Indonesia. The relations between Australia and Idonesia have improved due to the smooth Krudd factor, (am always concerned at soveriegn risk) and this has also enhanced prospects. The proposed development is near to shipping and of course nearer to Indian and China markets.

A name change is to take place towards the end of the year to reflect it as a resource company when it will be rerated in my view by the market.

Do you own research, yearly report was out a month of two back so there is plenty of information.

Pleased to be holding this stock
 
hi explod and any one who may be interested-just wondered if you all are keeping up with sss ,s announcements lately,seems to be some big things happening and very quickly too.
 
roysolder said:
hi explod and any one who may be interested-just wondered if you all are keeping up with sss ,s announcements lately,seems to be some big things happening and very quickly too.
Click to expand...

Looks like it, the close today was a good break on the chart from consolidation the last week.

The name change will rerate it I think, when people see Sams Sea Food they rightly freeze
 
well they are out of seafood now and pan asia corp sounds much better!
i,ve been buying here and there,wished i had bought more now.
explod did you know they have manganese to mine as well of coal and plenty of it?
love to hear your thoughts
 
roysolder said:
well they are out of seafood now and pan asia corp sounds much better!
i,ve been buying here and there,wished i had bought more now.
explod did you know they have manganese to mine as well of coal and plenty of it?
love to hear your thoughts
Click to expand...

Sorry a long time to get back Roysolder, but yes they have some very interesting prospects and someone certainly loved them today.

Holding SSS
 
explod said:
Sorry a long time to get back Roysolder, but yes they have some very interesting prospects and someone certainly loved them today.

Holding SSS
Click to expand...

And still loving them today.

Price is up over 60% since the close on Tuesday :eek:

Has there been some announcement or something that I've missed??
 
Pivotonian said:
And still loving them today.

Price is up over 60% since the close on Tuesday :eek:

Has there been some announcement or something that I've missed??
Click to expand...

Nothing missed. Have been following them close and noticed for the last three weeks a seller dumping up to 8 mil a day in two lots (4 mil at time), this selling dried up Monday and buying has taken it forward from there and of course any increase in price attracts more activity. If you read their action/activities in announcements for the last few months and take into consideration that they have a name change coming then I think on the fundamentals the rise is not too surprising.

Just gone into a trading halt.

They had a drill test start a few weeks ago on the coal prospect (bourders a very rich operational coal mine) and would not mind bettting they have some cores sample results.
 
hi explod, noticed there was an announcement last week re the triumph west deal and i think you are right on the money re drilling results which maybe out today on open.i,m expecting the sp to continue its rapid accent agin today.
sorry for the delay in posting as i was away visiting a wonderful family in your country.it really is the lucky country over there
 
Opened 30% higher again this morning on huge volume.

The rapid ascent continues ...

I should have bought in on Thursday when I had the chance! :banghead:
 
Status
Not open for further replies.

Similar threads

wayneL
Direct Property Investment vs REITs
Replies
15
Views
2K
Rosscoe62
Rosscoe62
Garpal Gumnut
Thoughts on Trading and Investing : Garpal Gumnut :
Replies
15
Views
2K
Garpal Gumnut
Garpal Gumnut
Ferret
ASX Index Tracking ETFs
Replies
19
Views
2K
Bellcose
B
Dona Ferentes
The role of Private Equity
Replies
4
Views
1K
qldfrog
qldfrog
ducati916
November DDD
2 3
Replies
46
Views
3K
ducati916
ducati916
Top