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You watching Zinifex Nyden? Nice recovery in the last 30 minutes - my only stock today that's gone green!
ZFX - Zinifex Limited
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well, at least it was green for a moment or two. I also noticed that UBS dumped a whole load of ZFX - I would have thought that would have had more impact today....
Nyden
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No, I was out buying a frozen iced treat
Too blooming hot today!Came back to see even more red, it's just moronic, base metals made awesome gains over the past few days...yet our market ignores it. Once profits are reported (and if they're good...obviously) I don't see how the market can still claim doom & gloom.
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THINGS HAVE TO BE LOOKING GOOD NOW THAT THE MAJORITY OF INSTITUTIONS HAVE DUMPED IT.. THEY GOT IN AT THE WRONG TIME AND ARE GETTING OUT AT THE WRONG TIME...
Agm have made a recommendation to shareholders. Don't take the ZFX offer. AGM is wouth more and if they stall until production all the better. As a long term AGM holder I will not take the ZFX opportunistic offer. I would like AGM to make ZFX an offer. Or would I, what does ZFX have to offer long term? Holders of ZFX could do worse than sell ZFX and put their money into AGM.
Nyden
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Well, fortunately that will never happen. ZFX will get AGM if they want it badly enough, make a high enough offer & the board is bound by the rules to recommend holders to accept it. They can quite easily buy up 30% on market, & get the rest off.
The fact that AGM isn't sitting on $1.50 suggests that the offer is only a hair off the perfect price, if ZFX up it, or go hostile (with an increased price) - they'll get it. I understand that you're a long term believer, but sorry
The fact remains that AGM is still speculative (no matter how close to production), and is still at risk of many factors, no matter how finalized everything is, the time between now and the time that the first ore comes up (when is that, by the way?) is an eternity where anything can happen, and the board will be forced to take this into account.
And as far as I know, AGM may have called the offer opportunistic; but they have not flat out declined? Merely stated to hold off on a formal decision (which will probably be no). In which case ZFX will make their next move. AGM are still consulting with firms, & the likes to get recommendations on the offer, Zinifex are not stupid enough to allow AGM to come into production before acquiring it should they really want it.
Not all the holders of AGM are long-term believers like you are, they may have only recently bought in, it may just be a technical trade - and I'm sure many will accept a sure-thing profit over that risk.
Considering there are companies going to the wall in un financiable debt... what worth is a company with 2billion in cold hard cash...
I am not surprised AGM sp is sitting around the $1 mark...
In these times of credit crunch, i think those who choose to turn down a cash offer for the possibility of debt / equity financed ventures... are very foolish.
in times like these cash is king.
I am not surprised AGM sp is sitting around the $1 mark...
In these times of credit crunch, i think those who choose to turn down a cash offer for the possibility of debt / equity financed ventures... are very foolish.
in times like these cash is king.
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just for the record
here's ZFX for the last 2 years (High Low Close) + averages
Also ZFX vs XAO for last 12 months (candlestix) + ditto (percent indicates relative preformance campared to datum of XAO)
PS I plan to do this to a few stocks - please feel free to either
a) help out an divvy the job up between a few of us
b) suggest amendments to graphs
c) request some stocks you'd like me to post (maybe PM me)
d) tell me it's not necessary lol (or too wasteful of memory maybe?)
here's ZFX for the last 2 years (High Low Close) + averages
Also ZFX vs XAO for last 12 months (candlestix) + ditto (percent indicates relative preformance campared to datum of XAO)
PS I plan to do this to a few stocks - please feel free to either
a) help out an divvy the job up between a few of us
b) suggest amendments to graphs
c) request some stocks you'd like me to post (maybe PM me)
d) tell me it's not necessary lol (or too wasteful of memory maybe?)
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Change in directors notice -
Couple of directors have purchased extra shares on market.. All small parcels
$10k - $20k each.. quite odd really, perhaps they are feeling positive but dont want to breach regulations..
Couple of directors have purchased extra shares on market.. All small parcels
$10k - $20k each.. quite odd really, perhaps they are feeling positive but dont want to breach regulations..
Nyden
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It isn't quite odd, and it isn't indicative of upcoming news.
From what I can see, this is just their share plan automatically buying them the shares.
Nyden
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Answering that would be pure speculation, but - in the past ZFX always do seem to give up excess profits as dividends. I hope they don't though, as I would like to see Zinifex start looking more towards the future.
I hope they don't either. ZFX needs to convert their huge cash assets into higher yielding assets, ie. productive mines, such as AGM's, if they are to survive and prosper longer term.
I think they understand that and there should be some more interesting announcements in coming months.
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If I were a ZFX shareholder which at this point of time I'm not, I would rather see them purchase a nickel company thats already producing, with good prospects and no dept like IGO or MCR, although that would wipe out my 2 best traders. porkpie
Nyden
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Doubt it. CommSec project an estimate of 115 for the year...which is 57.5
It could be higher though, or lower. All depends on what the new CEO does.
Those high dividends really are a double edged sword, however...that's what has become expected of ZFX. If they lose that high div yield they may just suffer, as it isn't like it's exactly a high-growth stock either, for the moment at least.
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I think it may also depend on how much cash they will have left after the impending shopping spree. "Dedicated to Investor Returns"
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interesting day for ZFX today, Zn down 4% o'night and current price firmly grounded on LT 50% fib retrace at $12 with next significant support level $9 and weekly DT firmly established
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Can you clarify what you mean, that post was in chinese
LT? Fib retrace? DT?
yep sorry (wishes he could post chart but always outside forum limits)
LT - Long Term - last 3 years
50% Fib Retrace = Fibonachi Level - has retraced half the gains in much shorted time and temporilly stopped falling at that level - this level may of may not hold
DT = Down trend
ZFX has been in a solid weekly uptrend (higher highs and higher lows) but this has rolled over to a weekly downtrend (making lower highs and lower lows)(still firmly in tact) about 6 weeks ago
