prawn_86
Mod: Call me Dendrobranchiata
- Joined
- 23 May 2007
- Posts
- 6,637
- Reactions
- 7
But then what would Warren Buffet do in this climate? i would guess he would be buying!!
People love to use Buffet to try and compare their investing too. IMO Buffet would not be buying a company is possibly teetering on the edge of bankcruptcy or with huge debt issues. He would be buying companies with solid earnings histor and stability that had been oversold due to fear or bad management.
All imo
Appears to be alot of money going off the table today. Anything under 12.5c is possibly worth buying with my current average and last buy price.
Mitsimonsta the announcement yesterday isnt of concern to you? or you were always planning on increasing your stake and are hoping to get a cheaper entry because of the announcement?
Corus signs MoU on Teesside sale with Marcegaglia and Dongkuk
29 Jan 2009
Further to the announcement issued by Corus earlier this week, Corus, Marcegaglia SpA and Dongkuk Steel Mill Co Ltd have today signed a Memorandum of Understanding with a view to Marcegaglia and Dongkuk jointly acquiring a majority stake in Corus’ Teesside Cast Products business (TCP).
Marcegaglia would have the largest equity interest, while Corus would retain a minority holding.
Both Marcegaglia and Dongkuk are part of the four-member Consortium that has a slab Offtake Agreement with Corus. The other Consortium members, Alvory SA (a subsidiary of Ternium SA) and Duferco Participations Holding Ltd (through Steel Invest Finance (Luxembourg) SA), have confirmed they will continue as Offtakers in a revised arrangement after the change in ownership.
Marcegaglia and Dongkuk will now undertake due diligence with a view to finalising the terms of an acquisition agreement as soon as possible.
Phil Dryden, Divisional Director Corus Long Products, said: “The proposed change of ownership fits the business plans of all participants and will significantly improve prospects for the further long-term development of steelmaking on Teesside.”
End
People love to use Buffet to try and compare their investing too. IMO Buffet would not be buying a company is possibly teetering on the edge of bankcruptcy or with huge debt issues. He would be buying companies with solid earnings histor and stability that had been oversold due to fear or bad management.
All imo
The real problem is the potential impact on the sale price of Price of PD Ports and the asset level debt financing. But to consider that it is material in the overall context of BBI is unrealistic.
market taking a beating today
i hope things take a rebound tommorow, as it stands im making a loss from bbi -_- but i plan to hold this for a longer term so hopefully things turn out right. i just dont want to see it hit 10 cents again either.
I think its more a case of some shareholders not "taking some out" but more importantantly dumping a few mill shares in the last few minutes and just wanting out.
Some can't take the heat it seems.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?