Rumour has it that TIM may be struggling to refinance some short term debt that is due next month.
Could get ugly.
There is also a fairly active campaign running to sell some olive land currently leased to TIM growers at 9.5% up Boort way.
All well and good unless the grower defaults and then TIM does likewise.
I dont like the smell of things either here with TIM nor with GTP at the moment. Both are drowning in debt. They couldn't have picked a worse time.
GTP trying to do what looks to be a hugely suspect deal with their growers in Timber and Cattle whereby they end up with equity (and potentially a wholloping big tax bill) and TIM having apparently exhausted their search for an alternative wholesale agricultural investment model capable of supporting the huge fees they had got used to from MIS seems to be selling the family silver.
Not even the light from an oncoming train to add excitement here. These stocks are drowning not waving.
Sell, sell, sell.
TIM Price at posting:
52.5¢ Sentiment: LT Sell Disclosure: Not Held
