Astron - ATR: A zircon player in Aus and China

[drworm]

Damo79, the EBITDA figure you took - is that the figure for the entire Astron business or just the Chinese manufacturing component. If it is the entire business, the component for the manufacturing business is probably higher than this due to the exploration and corporate costs the parent business has to endure. Perhaps you can get some hints if they mention exploration costs somewhere. I think the sale would logically hang on the performance of the manufacturing business.

Don't own any myself but once did and lost money. Disclosure is appalling with this company.

[Damo79]

Good point drworm.

You're probably right that the EBITDA for the businesses for sale would be a bit higher. However, they do go on to say in that announcement that they haven't met the condition, so I guess that's the important issue.

However, dissapointingly I just jumped ship at $2.60 (my average buy price was $2.63, so i wasn't too burnt). There was (is) so much potential for this company, but I just can't trust the management. Such a shame as I've held this for a while, and was planning to hold long term. The last month was the last straw however.

Good luck anyone continuing to hold.

[ead83]

Thanks for that Damo. If thats the case, the deal may be dead in the water. 130 milllion RMB is equal to around AUD$19 million, so they're a fair way short either way.

Might be a good one to pick up under $2 just for the 20c dividend!

[soulman]

Yes, management has all but ruined it's reputation. Whatever the profit result, ATR cannot be trusted anymore. Suprise to see $2.60. I though low $2's. It seems there are some buyers who believe the best are yet to come, where they should be selling and breath a sigh of relieve.

[weasel]

Thanks for that Damo. If thats the case, the deal may be dead in the water. 130 milllion RMB is equal to around AUD$19 million, so they're a fair way short either way.

Might be a good one to pick up under $2 just for the 20c dividend!

Well it is approaching the two dollar mark - sellers at 2.39. chance for a juicy dividend if anyone can trust these turkeys!

[The Big Ease]

the previous thread on this stock was perhaps one of the best discussions on any stock i have read anywhere. it brought the best out of everyone as this stock really challenged those with different investment preferences.

in the end, i think the argument has been had on this one and the verdict is in. the management had a 2 year period of market momentum, which increased their SP by 10+ fold. what did they do with this vote of confidence? exactly.

it may well be that management are right and the market is wrong. but they given us very little to hold onto. if all you have left on the positive ledger is the yield, youve got to ask yourself why? on the other hand, if you believe theyre good managers with the right strategy, good luck!

i remember a member on this board once said something to the effect of "with a once in a generation mining boom happening all around you, is this where you want to allocate your money in the resources industry?"

answer: probably not.

[weasel]

Well I've had a look at the announcements, and a quick calculation says that the previous value of $3.80 per share, is now somewhere between $2.97 and $3.24 a share, depending on how much DRP, and this might still be "less completion adjustments".
wease

[Damo79]

Not sure if i've got this wrong, but didn't ATR just go ex-dividend (20c). And yet it actually opened a few cents higher. Must still be some people out there who haven't been scared off by the dodgy management.

[soulman]

Don't know about you holders but ATR goes ex-div 20 cents 26th Nov. I think Weasel got it wrong when he said sellers at $2.39 and time for a juicy dividend. It drop 15 cents that day but did open up 1 cents on low volume of course.

It is surprising to see people still in this. The AGM must be positive then.

[weasel]

Don't know about you holders but ATR goes ex-div 20 cents 26th Nov. I think Weasel got it wrong when he said sellers at $2.39 and time for a juicy dividend. It drop 15 cents that day but did open up 1 cents on low volume of course.

It is surprising to see people still in this. The AGM must be positive then.

Yes, weasel got it very wrong cause he forgot that the ex-dividend date is 4 days before the record date. I hope no one bought expecting the div. If they did, I am sorry.