Gosh, that spooked me. It indeed is chasing THL sp, just realised.
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Well I've joined the club guys! I wanted in sooner, but the situation wasn't right...
(Without sensationalizing SCL - because that add's almost zero value to the forum, right?)
SCL I think is a good purchase for me because I'm fairly confident that they'll only go up... If I need the money in a few months for a house purchase, I'm confident I can get it back. If it transpires that I don't need the cash later, I'll almost certainly be holding my SCL shares long term.
Hmmm, sensationalism aside: Looking at the list of buyers vs sellers in the asbsecurities interface, there are currently 18 people looking to buy 141,400 shares (priced $2.05 - $2.10, mostly at the higher end of that range) and only 3 sellers selling 12,556 shares (priced $2.25 - $2.35). Basic supply and demand tells us that price is looking up. The value of the NZD and the fact that SCL trade abroad suggests positive results. I think things are looking good.
The other good thing about SCL shares is that (looking at the trading) people don't tend to let them go easy - they're never willing to drop the price to get rid of them, they just list them and if people don't buy - tough!
quote from Graeme wheeler today: "...the last thing we want to do is raise the value of the nzd..."
Must be good for exporting companies like SCL
When are the results of Scales out? Anyone have the date?