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6.1¢ aumake international limited

EBIT will be lower than there stated 10 - 12m, page-40

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Galba

2,342 Posts.

39

05/10/14

18:17

Post #: 14077825
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Originally posted by Baraka ↑

the risks in this industry in respect of contract delays / margin erosion have come to pass. Heaps of other private operators are doing much worse. At least hofco looks like it will do better than last year - given overall gearing is low to moderate, TTN look like they should get thru this.

What I don't get is how a fund manager can just dump stock at the slightest whiff of a slowdown esp in a small cap - aren't they supposed to be long term ? imagine if a companies bankers did the same thing !

most of the issues appear to be in the camps/ catering / water cartage - gap in drilling contracts ( par for the course in his business ) has happened at the wrong time. debt / ebit is less than 1x new forecast - if was say 2 / 3 times their previous forecast ( i.e. $21m ebitda x 3 ) they would be in a whole world of hurt.

back in the bottom draw - why sell now is a buyers market ?

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And also Baraka let us not forget, if I'm right, didn't Forge's bankers pull the rug underneath them which led them into administration?

AUG Price at posting: 49.0¢ Sentiment: None Disclosure: Not Held
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