Despite my med-term bullishness re RIV i sold half my stake today at 6.99. The recent TO activity in coal sector certainly helping RIV and other under-valued coal stks. CEY is an example and i certainly regret not buying some when CEY fell to 3.12. i had an order in at 3.05 and my greed has cost me. Nevertheless av. into RIV at 5.90 and am delighted. I sold down coz i need cash to cover other trades. Am still on holiday in Cape Town and today's paper re-iterates that local power monopoly ESKOM intends to intoduce elec. tariff incr. of 35%/year over next 3 yrs=105%! Obviously lower income groups are going to suffer and it's a constant issue in press. I can't see why ESKOM wouldn't be interested in buying power from RIV esp when new deposits in RSA are severely ltd. by lack of water.
RIV Price at posting:
$6.90 Sentiment: LT Buy Disclosure: Held
