Pressure Technologies today finally informed the market they're in the oil sector being unfortunately punished (Disc: Short). Its unfortunate as the company is well managed and has been a significant long until more recently. Today's final results are positive but one would be wise to work on a 20% reduction in revenue for the year ahead as a conservative approach.
As a separate note, it was amusing to share my thoughts on Petropavlovsk (POG) today with a target price of circa 5.25 pence. Its amazing certain people are supporting the rights issue, would someone be kind enough to remind me if certain parties sold significantly higher so of course it would be rude not to support a rights issue at...5 pence. With the current state of oil likely to have implications (negative) for gold its not a placing without risk.
Atb Fraser
Addition: I had been asked today quite a few times what is happening with Kenmare. The only thing I can conclude is that Kemnare's likely to be an all share offer in the current climate which means any offer is materially lower because of the Iluka Resources share price, down near 30% and dropping since September.
Amusingly it was some tittle tattle that stated that Rio had a few chaps walk out their offices the other day whom may suggest there's corporate activity going on. It shall be interesting as the market, like I, has removed any possibility of a corporate action on a number of levels. That is not even considering the regulatory approval needed. Perhaps once could have another crap co spin off for certain assets.
The noise coming out of the investor day for Anglo American (AAL) isn't positive either. Currently with a lethal case of some lurgy no woman could survive its with regret I wasn't able to take the time. So here's a few items, including the webcast and presentation. AAL despite my views should be congratulated for taking this approach of transparency.
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