There are a couple of negative factors that could be weighing on this share.
The Port Elizabeth closure of Holden will surely create a negative jobwash through South Australia in general and that includes Adelaide, and our SKC casino on the riverbank. But that 'news' is over six months old, so it could only be that fiurther downstream effects are now being priced into the South Australian consumer market that would cause the latest share price weakness. However, if we go by what happened with the decline of not so smart manufacturing in Auckland over the last fifteen years, I am not so sure the Auckland casino was affected. So I am guessing that Adelaide won't be either, in the long term.
Last week I got hold of a Morningstar report, datede 1st July 2014, that recommended Australians sell their SKC shares. However, the report stressed this was not because of any deterioration in the outlook of the company. It was because SKC was not going to be modelled by Morningstar any more in their new super duper computer system. If Australians are that fickle, I see it as my duty to relieve them of any SKC shares that come to market as a result.
The annual result is out this week and the SKC share price has been weakening in anticipation of nothing special. I expect the share price to bounce or stabalise when the annual results are released. I am with you NZ Silver and added to my holding last week.
SNOOPY