Production is up 40% FY21 on last Performance results published (29 APRIL 2021)
Production halt that may have material impact on financial statements is only 5% of total production for the period, although reasonable due to production increase.
If agreement can be made for the debt restructuring (13 JULY 2021) this stock can go very high, target 13.47
New appointment of David Noko (well qualified and experienced in manufacturing industry) to keep board compliant.
If no agreement then there would be alternative plans made, I personally doubt that this company will default, due to the amount of employees (Labour intensive operations) and the impact on the community. The company is well established. Current position on SOFP not looking great at all. Management quite new and out for a turnaround of the current position.
Seeing that PSG Asset Management (Pty) Ltd has 15.05% stake I am quite calm, and Braemar Trading Limited 8.5% (Who ever this is, but caused movement in price on date of SENS)
Wait for pullback and jump for a buy opportunity.
LONG.
This is opinion and not advice.
Happy trading
Production halt that may have material impact on financial statements is only 5% of total production for the period, although reasonable due to production increase.
If agreement can be made for the debt restructuring (13 JULY 2021) this stock can go very high, target 13.47
New appointment of David Noko (well qualified and experienced in manufacturing industry) to keep board compliant.
If no agreement then there would be alternative plans made, I personally doubt that this company will default, due to the amount of employees (Labour intensive operations) and the impact on the community. The company is well established. Current position on SOFP not looking great at all. Management quite new and out for a turnaround of the current position.
Seeing that PSG Asset Management (Pty) Ltd has 15.05% stake I am quite calm, and Braemar Trading Limited 8.5% (Who ever this is, but caused movement in price on date of SENS)
Wait for pullback and jump for a buy opportunity.
LONG.
This is opinion and not advice.
Happy trading
