ARI Arrium Limited - thanks Joe
From a share purchase point of view the stock performance is,,, errrmm, yes, crap. Once over $4.20 and now around 10c or so, yes, a fall of 97%.
ARI bought tenements from WPG under Southern Iron Limited near Coober Pedy. Paid a fortune for them and this has proved yet another unfortunate decision by the company - paid A$346m in 2011. [once owned by Auiron Energy/Felix Resources and almost given away to WPG Resources] http://www.arrium.com/our-businesses/arrium-mining/operations/southern-iron
Loaded with debts and forced to sell assets in a sort of orderly fashion to avoid sinking beneath the waves.
Gone are the glory days of the once OneSteel floated off by BHP.
Why buy? - well, few others are and some of these once jaguars may revive or be revived. Maybe also, the bidders from a few years back could return. Perhaps the unlikely could happen and BHP may see this situation as a gamble worth taking. All unlikely but who knows for sure?
SMA thanks Joe.
Hopefully recover some lost ground in price this month, and then add some. Looking to see if they will continue with more news on increasing income.
With a possible farmout announcement in September, and third time lucky in the well department, there may be a decent re-rating. One can only hope. Best to all.
WRR please. Presentation out today which is hinting towards potential acquisitions. Very tiny free float, so could fly if positive developments take place.
Havilah Resources Limited (“Havilah”) is pleased to announce that it has accepted an offer from Investec Group (“Investec”) for a $6 million Loan Facility and Risk Management Facility (“Facility”). Investec has completed its due diligence and has confirmed credit approval for the Facility. The final documentation for the Facility is expected to be completed by the end of August 2015. Investec is a highly respected resource industry financier with a long history of supporting Australian mining companies.
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