Re:How long before Phumelela trade at 50 cents a share?

Big P closed at 200 today and theres only been one direction this dog has travelled since I started calling this. I started at how long 1000 then 500 then 200 and it has taken less than a year to tank. My money is on this share hitting its listing price of 50 cents by the time the next AGM takes place in December.

My only regret is that there was no way I could gain by backing the short on this hound. I wonder whats happened to Harry Hotspur and all the other Phumelela apologists and supporters over the last few months? Your heroes have sold racing down the river while enriching themselves personally over the years.

always been a terrible stokc to own. to closley held. not enough trades.

the biggest loser is the trust who have seen asset devastation caused to the Trust by the collapse of the share price. asleep at the wheel is what comes to mind when watching the trusts directors/trustees actions when dealing with P.

Ota you have called this like a boss but I think it's probably reached the low now. I think the stakes agreement with the gambling board will be reinstated as the original rationale of job creation still holds and the protector is clearly on her last legs. Not sure where you are but I'll have a bottle of your choice on not seeing 50 c by agm

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jim wrote: Ota you have called this like a boss but I think it's probably reached the low now. I think the stakes agreement with the gambling board will be reinstated as the original rationale of job creation still holds and the protector is clearly on her last legs. Not sure where you are but I'll have a bottle of your choice on not seeing 50 c by agm

Jim I am reliably informed that the GGB will not reinstate the 3% from the bookies as in their opinion ( and one no one of sane mind can disagree with ) the monies were supposed to be used to assist transformation in the industry. This has clearly not happened despite Phumelelas BEE level. One thing that I would be all for is the 3% be paid over, not to Phumelela, but for the funding of a proper regulator that could truly be impartial and ethical. This would most definitely not be the current crowd at the NHA who have failed on so many levels and report to their paymasters.

As for the wager on the share price, how about meeting me in the middle and going 100 a share by AGM? That's 4 short months away and if we could get betting on this, I believe you would be favourite. I drink JWB, is this whisky of a level high enough for you?

As a last note, I previously warned about Greeks bearing gifts are not to be trusted. Supabets received over 300M in CASH and the balance in paper for selling half their business to Phum. I believe the purchase price amounted to around 430M. That R300M in cash could easily be used to buy out Phum at current share pricing should the required approval be given. That would be quite a story wouldn't it? Expect no opposition from P in this regard, all the buddies could hold onto their jobs should this happen, whilst I am sure the other group interested in saving the industry would quickly get rid of the drek who have run this business into the ground.

J and b at 100 it is. I reckon it's just too low v nav

Sorry misread jwb my favorite it is

I'm fully with OTA on this and have been since the beginning. I can however NOT see the Government allow racing to fold, there is too much tax revenue involved and too many jobs at stake.

What I do agree with however is that if Phumelela remains as it currently is structured to run horse racing in the majority of SA with the same people then there will be forced changes. They themselves should be putting in changes now already, and if that is not being done then it is poor management and the share reflects that.

All industries are competitive and all companies within those industries fight tooth and nail, day and night with the best team available to them on earth to sustain and grow their market share and profitability. The disgraceful dividends paid out over the decades was a takeout which should have not been allowed, there should rather have been a re-investment of those monies into grooms facilities, racetrack management, facility improvement, better structured PR, sponsor recruitment..and the list goes on and on.

Its been very sad to watch over the years, they trade on the owners and trainers love for horses and the professionalism of the jockeys and grooms BUT most importantly the loyalty of the PUNTERS.

I wonder what would happen if Horse Racing in SA became a SOE.... :dry:

R1.5 today seemingly:(

Improved now though

Insignificant volumes but the sentiment remains negative.

The reduction of stakes to be announced next week will add further blood into the water and I am fairly optimistic we will go below a Rand very shortly thereafter.