CXG
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2.27% 21.5¢ coote industrial ltd

plummeting share price? update on greentrains?, page-4

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  1. robertch
    395 Posts.
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    09/12/08
    23:00
    Post #: 4588743
    Privateer,

    I don't know that Grrentrains is dead yet but I think it would be much better for CXG for it to fall over now than latter when Greentrains has a secure long term lease with CXG.

    I dont have the attribution, but a read a Financial Review article about 1 week ago reporting that the market for fabrication of new bulk commodities wagons had completely tanked.

    UCG subsidiary A Gonin , who make rolling stock, have not received a new order for 6 months.

    All the finacial risk on this deal rests with CXG, firstly on construction without appropriate capacity to pay from Greentrains. Secondly GXG is going to do an operating lease for probably 60 months and assume all the risk if it can not on-lease the engines and ore waggons.

    This is a bit of a mess.



    CXG Price at posting: 17.6¢ Sentiment: Sell Disclosure: Not Held
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Currently unlisted public company.

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