866 replies to this topic

[MINK]

Well well well... No. 1 employer in S.A. according to forbes   https://businesstech...n-south-africa/

 

[MINK]

Thanks Mink.

 

I am however worried about the impact of Covid on their ops. Thats a lot of overheads to carry without the subsequent revenue to match so I doubt they will be profitable this year.

If it does pan out as you say, then well I will be buying you a hot meal or 10.

 

Remember the words of Warren Buffett "The market reward those who are patient and punishes those who are not". Hopefully we will be rewarded handsomely for our patience. The management even said that they will reward their investors, but I don't trust the words of executive... show me the results.

[Sleepwa123]

Thanks Mink.

 

I am however worried about the impact of Covid on their ops. Thats a lot of overheads to carry without the subsequent revenue to match so I doubt they will be profitable this year.

If it does pan out as you say, then well I will be buying you a hot meal or 10.

[MINK]

Soooo interesting question.

 

If you had R20K to put somewhere. Where would you put it?

I'm inclined to go 50% Steinhoff and 50% Aveng.

 

I personally would undoubtedly go 100% Aveng for the following reasons:

 

1) Even though Aveng MIA is now that the results are due, they are on track with their recovery plan (Losses shrunk: R3.5bn June 2018, R1.7bn June 2019 and R0.1 bn Dec 2019)

2) They are bagging contracts worth billions left right and center in Australasia and they have learned their lesson from taking on loss making projects

3) Moolmans have turned profitable and based on the projections things are also looking good

4) Steinhoff have a PwC report that is as secretive as the US nuclear codes

5) The returns on Aveng if they restore to their former glory is the deal of the century: R20 000 = 666 666 shares @ 3c each and with a former price record price of R71... you will for sure need a financial calculator for your wealth. To be more realistic, let's say in 5 years time they get to R30 and they pay a dividend of R2, you will het your R1.3mil annually. That is now taking tax out of the equation.

6) If it ever happens, Steinhoff will take years to get to it's former glory of R95 per share... By that time you could have used your Aveng dividends to buy Steinhoff shares.

 

This is just my opinion.

[Sleepwa123]

Soooo interesting question.

 

If you had R20K to put somewhere. Where would you put it?

I'm inclined to go 50% Steinhoff and 50% Aveng.

[Blackobar]

You will for sure be able to afford Mink coats, so I will take mine in it's natural color if you don't mind

I hear you loud and clear MINK.

[MINK]

I hate share consolidations, there is a small percentage of companies whose share prices do well after a consolidation. I'd prefer a large scale buyback at these prices, take out a 15+B @2/3cents and leave the 2b.

About Moolmans, I thought I was the dumb one who couldn't find any news about them, I just can't find anything about that company.

If aveng pops up and management gets its house in order,I may afford a Mink coat too. haha

 

You will for sure be able to afford Mink coats, so I will take mine in it's natural color if you don't mind   

[Blackobar]

The way they are quiet now about the buy back is very worrying, unless they are waiting for the Net Income to swing into the positive as that is the only logical reason they can have. My worst fear is a stock consolidation and then that consolidated stock also looses value .

I would definitely pose that question if I could attend their AGM, hopefully someone can do it on behalf of us. It is somewhat of a concern that majority of their income is now from Mcconnell. It would be sad to see a veteran company like Aveng delist from the JSE and list on ASX, so I hope you are right.

Looking for information on Moolmans is like looking for a black cat in a dark room. What is a bit comforting is how the post new vacancies so I guess they are making progress behind the scenes.

I hate share consolidations, there is a small percentage of companies whose share prices do well after a consolidation. I'd prefer a large scale buyback at these prices, take out a 15+B @2/3cents and leave the 2b.

About Moolmans, I thought I was the dumb one who couldn't find any news about them, I just can't find anything about that company.

If aveng pops up and management gets its house in order,I may afford a Mink coat too. haha

[MINK]

Hey MINK, I understand the shares issued differences between M&R and Aveng. On the last agm a share buyback resolution was passed, which is what a lot of shareholders expected would have been done by now, at these super low levels, but there hasn't been any news from management.

I don't see a delisting in sight, but man, with a secretive management like aveng's you never know.

I'm hoping for the best though, McConnell Dowell's an exceptional business down under.

 

 

The way they are quiet now about the buy back is very worrying, unless they are waiting for the Net Income to swing into the positive as that is the only logical reason they can have. My worst fear is a stock consolidation and then that consolidated stock also looses value .

 

I would definitely pose that question if I could attend their AGM, hopefully someone can do it on behalf of us. It is somewhat of a concern that majority of their income is now from Mcconnell. It would be sad to see a veteran company like Aveng delist from the JSE and list on ASX, so I hope you are right.

 

Looking for information on Moolmans is like looking for a black cat in a dark room. What is a bit comforting is how the post new vacancies so I guess they are making progress behind the scenes.

[Blackobar]

1.) M&R have 444 million issued shares while Aveng have 19 Billion, mainly because of the convertible bond. 2) The market have a memory so the fund managers that bought at around R1 got burned so badly that they refuse to touch it until they are in the positive. 3) I see on information platforms like BD live, all the big guns still refer to Aveng as a construction company in S.A. while they are actually a mining company in S.A. (Moolmans) and a construction company in Australasia (Mcconnell). The upside is that it enable us to buy more shares. If they swing into positive and confirm the share buy back, the share will be unstoppable. What I am worried about is a delisting... hopefully that will not happen.

Hey MINK, I understand the shares issued differences between M&R and Aveng. On the last agm a share buyback resolution was passed, which is what a lot of shareholders expected would have been done by now, at these super low levels, but there hasn't been any news from management.

I don't see a delisting in sight, but man, with a secretive management like aveng's you never know.

I'm hoping for the best though, McConnell Dowell's an exceptional business down under.

[MINK]

The markets celebrating M&R R18bn contract, but that's almost the same amount as the contracts McConnell Dowell's been getting, to no fanfare. Can't blame the markets, Management's sleeping on the wheel here.

 

1.) M&R have 444 million issued shares while Aveng have 19 Billion, mainly because of the convertible bond. 2) The market have a memory so the fund managers that bought at around R1 got burned so badly that they refuse to touch it until they are in the positive. 3) I see on information platforms like BD live, all the big guns still refer to Aveng as a construction company in S.A. while they are actually a mining company in S.A. (Moolmans) and a construction company in Australasia (Mcconnell). The upside is that it enable us to buy more shares. If they swing into positive and confirm the share buy back, the share will be unstoppable. What I am worried about is a delisting... hopefully that will not happen.

[MINK]

From multiple sources (BD Live and Standard Bank) it is the "unconfirmed" date of the 26th. So far Sharenet calendar have been extremely accurate and there's nothing about Aveng on it. Fortunately they can only kick the can down the road up until end of November. 

[AMG76]

Hi All
Account finally approved.
Does anyone know yet when the FY 2020 will be released. Have seen a date of 26 October, but can't get that confirmed.

Have also been trying to buy more at 2c, but not able to anymore at that level.

[Blackobar]

The markets celebrating M&R R18bn contract, but that's almost the same amount as the contracts McConnell Dowell's been getting, to no fanfare. Can't blame the markets, Management's sleeping on the wheel here.

[SB45]

Aveng is missing out on the recent run that some of its competitors are having i -eg  M&R and SSK. I think the 1,5 bn shares (8% of issued shares)  on the sales side at 3  and 4 cents are part of the reason - It seems to be one or two shareholders trying to offload but when there are seldom more than 10 million shares traded in a day , it is going to take 9 months to sell- so unless something significant (either the seller withdraws or an AEG  buyback?) happens we are stuck with the price at 3 cents for months. Am I missing something? 

These s***t heads can't hold the clock back the November will come....all will come out. I gave them a call last month and they said mid October results will be out and there was supposed to be sens detailing when the results will be out.

[Tonyh199]

The +1bln sell side has always been the case. I gave Aveng a call  2weeks ago to the enquire about the open ended SENS on the results. I was then told that they would issue another SENS will be issued with specific dates, here we are nothing. The indication was 2nd week of October, but I doubt. They will take the full 2 months of extension judging by their behaviour.

Aveng is missing out on the recent run that some of its competitors are having i -eg  M&R and SSK. I think the 1,5 bn shares (8% of issued shares)  on the sales side at 3  and 4 cents are part of the reason - It seems to be one or two shareholders trying to offload but when there are seldom more than 10 million shares traded in a day , it is going to take 9 months to sell- so unless something significant (either the seller withdraws or an AEG  buyback?) happens we are stuck with the price at 3 cents for months. Am I missing something? 

[Sleepwa123]

No worries. also took some effort to find. But I was keen to know as well as I have been wondering the same thing.

[Leadingedge]

Thanks Sleepwa, I was looking for that document... need to put my glasses on next time.

[Sleepwa123]

As I understand it they have until the end of November. Have a look at the table at the end of page 1.

 

https://www.jse.co.z...mpliance wi.pdf

 

[Leadingedge]

I can't see that there has been any update on the release date of their financials, as they said there would be. Surely time is running out?