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| Subject: Subject: Bounce in valueBy Tom EllisonSunday, 29 June 2003 | |
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Author: ERG Limited. 80c. Avoid. |
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Date Posted: Monday, July 07, 11:22:07am In reply to: Newspapers reporting result--March 7 2003 SMH 's message, "Noteholders have tickets to ride" on Thursday, March 06, 08:38:56am Subject: Bounce in valueBy Tom EllisonSunday, 29 June 2003 Author: ERG Limited. 80c. Avoid. [ Next Thread | Previous Thread | Next Message | Previous Message ] -------------------------------------------------------------------------------- Date Posted: 19:21:48 07/05/03 Sat In reply to: ERG 's message, "Parabolic pattern formed on Wednesday June 11th at the 8.2c area" on 14:09:06 07/03/03 Thu -------------------------------------------------------------------------------- http://canberra.yourguide.com.au/detail.asp?class=your% ----------------------------------------------------------- Bounce in valueBy Tom EllisonSunday, 29 June 2003 ----------------------------------------------------------- Norwood Abbey. 81c. Recommendation: Speculative buy. ----------------------------------------------------------- Undertaking some promising HIV-AIDS treatment research, Norwood's share price enjoyed an immediate bounce from some high-profile television coverage during the week. ----------------------------------------------------------- So it seems the speculators have moved on from Chemeq and are now playing with Norwood. ----------------------------------------------------------- However, investors in the initial float some years ago are still waiting for a recovery to over $1. ----------------------------------------------------------- Norwood Abbey is no longer solely reliant on its innovative drug-delivery product. This reduces investment risk somewhat, although faint-hearted investors should still avoid. ----------------------------------------------------------- ERG Limited. 80c. Avoid. ----------------------------------------------------------- Some of ERG's long-suffering investors may be been pleasantly surprised to see their shares trading at 80c during the week. ----------------------------------------------------------- But the tenfold rise in the share price has nothing to do with a sudden reversal in ERG's fortunes, and everything to do with a 10:1 share consolidation. ----------------------------------------------------------- ERG is notable for two things - winning contracts and losing money. ----------------------------------------------------------- Businesses can't lose money forever, although some corporate results in recent years might indicate otherwise. ----------------------------------------------------------- The future of ERG lies with being able to somehow turn contracts into positive cashflow, and I am not confident that will happen. Remember, only one trading day left to lock in a capital loss this financial year. ----------------------------------------------------------- FKP Limited. $2.33. Buy. ----------------------------------------------------------- Still having a reasonably lucid recollection of the late 1980s, I usually avoid any company associated with the "property developer" tag. But FKP may make me look again. ----------------------------------------------------------- As the company makes a transition from property development to property management, revenues will become more stable and reduce the need to constantly strike new deals to maintain earnings. ----------------------------------------------------------- Thursday's profit upgrade - it's expected to rise 50 per cent - will be welcomed by the market, although the price has already responded, to a degree. ----------------------------------------------------------- It will also be interesting to see whether the regulatory authorities take a look at trading patterns in the couple of weeks leading up to the announcement. Sudden, unexplained price rises do little to engender confidence in financial markets. ----------------------------------------------------------- Milnes Holdings. $1.52. Hold. ----------------------------------------------------------- Shareholders in pipe manufacturer Milnes have every reason to be pleased with their investment in recent weeks. An offer of $1.15 a share by Crane Group subsidiary Iplex was quickly trumped by a $1.30 offer from Etex, a move welcomed by Milnes' board. ----------------------------------------------------------- Not to be outdone, Iplex has now increased its offer to $1.50 a share, an offer the board will be forced to endorse, given its support for the lower Etex offer. ----------------------------------------------------------- A higher offer from Etex seems unlikely, but remains a possibility. Watch this space. ----------------------------------------------------------- The analyst has a beneficial interest in FKP and Norwood Abbey. ----------------------------------------------------------- Tom Ellison is an authorised representative of Garrisons Pty Ltd, 1 Elphin Road, Launceston. The material contained in this column is intended as general information and is not a substitute for personal securities advice. ----------------------------------------------------------- -------------------------------------------------------------------------------- [ Next Thread | Previous Thread | Next Message | Previous Message ] [ Next Thread | Previous Thread | Next Message | Previous Message ] |