ARI - Arrium Limited

Craton said:

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.

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Knobby22 said:

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

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pinkboy said:

[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

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Knobby22 said:

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.

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Craton said:

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.

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pinkboy said:

Boom!

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

pinkboy

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