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| Subject: ERG | |
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Author: ERG analysis dated 30/1/03--yesterday |
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Date Posted: 22:11:49 01/30/03 Thu I think it will still hold 13---but I think if it doesn't the worse case scenario will be 12 to 12.5---yes ERG is a great company okay?--whats happening is--the shorters are covering they are both goodies and baddies--for when they sell they also need to buy--so after they finish selling they then pop up on the buy side--so it is a matter of estimating where the base is--the reason they are covering is--there is a restructuring period coming up and ofcourse youve got Sydney and San Fran and all of that--Sydney though could still be anywhere from 1 week away to a month away--in Hahaha's opinion---probably not much happening till after March--youve got financials first week in March--the risks are it could go all the way back to ten again---but I don't think so--I shall be ringing the Supreme Court administrative appeals division on Feb 6th---today is the 30/1/03--that leaves 5 more trading days (excluding weekends) till call for directions---now the thing is there as the person said to me--if the registrar judges it to be a shorter matter that can be decided in a couple of hours--then they are more likely to make the hearing April May the significance of this would be the market would then know ERG have got it--for if it were only to take a couple of hours then Cubics appeal wouldn't be so substantial--it could also be dropped there and then--we have to wait and see---if we take Sydney out of it there is still San Francisco---but then I think in order for people to hold their stock rather than sell--they may delay these till after the restructure that way you won't have those people who have subscribed to the notes selling at a profit as soon as it goes through--if they were to know Sydney and San Fran were still in front of them they may be more likely to hold for the extra gain--after restructure computed net asset backing is 15.78c---but with financials coming up--I think NTA will rise anyway---but then as stated that is not till the 1st week of March--a whole month to get through between now and then.---Steve. Market depth from 3.49pm to 4.09pm 30/1/03--ERG -- In afternoon matchout 12.5 came out, 21:15:00 01/29/03 Wed Re: Market depth 12.5 figure 30/1/03 arvo--ERG -- 33 2,156,071 .130 1 .125 14,431 1, 21:20:23 01/29/03 Wed [ Next Thread | Previous Thread | Next Message | Previous Message ] |