my understanding is that his Caterpillar distribution business in WA is extremely profitable, and with the mining boom has been going from strength to strength.
Westrac is privately held by his ACE holdings, which also holds SEV on behalf of Stokes.
Stokes has used Westrac to acquire SEV, as well as his other interests.
I doubt that Stokes will suffer any impact from a margin loan, and if he has used it, it has been to "use OPM" if it is cheaper than using his own [his internal NPV hurdle rates are much higher than even current interest rates]
Peter Gammel is the CEO of ACE, and sits on the boards of all ACE holdings.
SEV Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
