ARI - Arrium Limited

[Craton]

Will a rejected $1 billion recapitalisation plan and rail upgrade keep ARI from going down the gurgler?

"Last month Prime Minister Malcolm Turnbull travelled to Whyalla to announce a significant rail upgrade would be brought forward that was expected to create a big order of steel from Arrium."

http://www.abc.net.au/news/2016-04-...t-arrium-gso-billion-recapitalisation/7296754

ATM, even the contrarian in me isn't touching ARI with a barge pole.

 

[Knobby22]

Will a rejected $1 billion recapitalisation plan and rail upgrade keep ARI from going down the gurgler?

"Last month Prime Minister Malcolm Turnbull travelled to Whyalla to announce a significant rail upgrade would be brought forward that was expected to create a big order of steel from Arrium."

http://www.abc.net.au/news/2016-04-...t-arrium-gso-billion-recapitalisation/7296754

ATM, even the contrarian in me isn't touching ARI with a barge pole.

I don't know, its a beautiful graph since July 2013 when the price was 70 times higher.
Looking at it you could say it was flattening and forming a base but this quote from a guy I know recently made me laugh:-
In technical analysis - 0 is not a support line.

 

[pinkboy]

[SUB][/SUB]

Looks like they may go under.
Interesting comment you made pinkboy back in February.

Best you read my write up here:

https://propertychat.com.au/community/threads/my-commercial-purchase.7877/

Was a very 'trying' experience to get them to sign contracts. The day after they signed, one of the Director signatories was axed.


pinkboy

 

[Knobby22]

[SUB][/SUB]

Best you read my write up here:

https://propertychat.com.au/community/threads/my-commercial-purchase.7877/

Was a very 'trying' experience to get them to sign contracts. The day after they signed, one of the Director signatories was axed.


pinkboy

Good write up. How did your old.landlord getting someone else?

 

[Craton]

I don't know, its a beautiful graph since July 2013 when the price was 70 times higher.
Looking at it you could say it was flattening and forming a base but this quote from a guy I know recently made me laugh:-
In technical analysis - 0 is not a support line.

Heh heh, yeh...

From a management perspective I'd say the board has "screwed the pooch."

@pinkboy. Thanks for sharing the link and the process. Must have been a real strain over the festival season but what a nice little outcome as reward for effort.

 

[pinkboy]

Heh heh, yeh...

From a management perspective I'd say the board has "screwed the pooch."

@pinkboy. Thanks for sharing the link and the process. Must have been a real strain over the festival season but what a nice little outcome as reward for effort.

Its still a strain. I have just worked 4 weeks in a row to move sheds and get my blast and paint chambers built and ready to go. We have about 2-3 weeks work to catch up on. So, more weekends at the shed getting jobs done and finishing touches on the blast booth.

Now Im beginning to think I could have waited and got the shed in a fire sale! . Nah, I got it for a stellar price, and happy with the purchase. Im actually going to work instead of avoiding the place!

pinkboy

 

[notting]

http://www.bloomberg.com/news/articles/2016-03-31/welcome-to-new-ice-age-as-top-china-mill-warns-of-steel-crisis

Not the best of industries at present according to some.

 

[pinkboy]

......and trading suspended.....

pinkboy

 

[pinkboy]

Boom!

http://mobile.abc.net.au/news/2016-04-07/arrium-enters-voluntary-administration/7306340

pinkboy

 

[Craton]

Boom!

http://mobile.abc.net.au/news/2016-04-07/arrium-enters-voluntary-administration/7306340

pinkboy

Maybe, just maybe the admins might be able to turn the tide.

Feeling for Whyalla and the 1K ARI workers.

@notting, yep, a long winter indeed.