Thanks for the respons Polly, appreciate.
I know way back, if I remember correctly, you were keen on taking a gamble on Aveng and forgetting about it for 10 years.
Share price at the moment obviously saying nothing, 2019 results only due in couple of months.
Environment specifically in SA still difficult, but does seem as if they are on track with sale of Rail, Water and other assets.
Do you have any updated views or personal opinions on Aveng, or your opinion still just that it's high risk, but may be worth a gamble-and-forget?
Bought that before the rights issue , then sold the rights so cost me minimal that time...Dont see much happening next 2 years or so..Next set of results will be vital for thier survival...Basically debt free but if they do make significant losses which is possible , those losses will be needed to be financed from some where..Lets hope not..We are at the worst of the building cycle now..or not...hard to say...I know people working in the enviro and engineering sectors..Retrenchments continue at a rapid pace..Govt sector ( Escom and Dept of Transport) all cancelling tenders already won by contractors. So its a tuff place to be...
But as i said i put mine in bottom drawer...not even looking at this till next set of results...Have to take a 5 to year view if they survive..If they do , can see R1.00 at least then... means we moving to other direction of cycle.High risk high return and this was one of the best in the construction sector. If you havent invested , i reckon worth going in at 2c for a good r/r here...and if she moves i wont sell at 5c or 50c....Just need to sit still and give it 5 yrs at least to play...If goes bankrupt so what....juts worth the risk imo...
If you looking for a cheap stock with goodr/r , look at jubilee plat...been a dog last 10 years ...but reckon this dog will wag its tail next 2 years...sititng at support around 50c..building a huge base...becomming a mid tier commodity player..So far they promised a lot and now time to deliver..Advantage of this one is not much debt..Most financing on projects done by issuing script..Good or bad idea i cant comment but hard for those juniors to get finance so they went for script option ..Just do some homework on it first..
Look at this link as they also listed in UK
and read under the share discussion ... i bought much higher up and averaging about 70c now for my entry... went to low of about 42c..One of Colin Birds babies...so if you got no confidence in him keep away...he is one of those wheeler and dealers..All talk and not much action,,,,,but seriously this one last 24 months has changed direction from a plat land owner to a mixed commodity player...Needs to deliver now