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LDK Solar Co., Ltd. Message Board

  • twoheadedsnake1234 twoheadedsnake1234 Oct 24, 2012 9:37 AM Flag

    $500M owed int he next several months

    LDK has a 1.2B RMB bond offering a 500MRMB bond offering and a $300M USD to be owed to 3rd party investors of the Poly plant come Juneish of 2006. By my estimates they need to for over $500M in cash come June of this alone. Forget the fact hey will lose another $500M+ between now and then from normal business operations or that they will need to write down the SOPW investment.

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    • Option A: Snakes slither, A company gets to review the assets, books, outlook, equipment and buys 20% of the stock. In my book, Pengs controlling shares plus institutional shares plus this 20% position leaves shorts a bit tight. Nevertheless, no fool company would make that bet with a good look - did you get that good of a look? My guess is you are not endowed with good looks

      Option B: Company making offer is receiving subsidy from China indirectly backing it and LDK

      Fool bet on government backed companies tend to loose in the long haul.

      But - Suppose you are correct. Loans not to be re-negotiated... blaa blaa blaa. Then you are betting against the company making the offer even though they now have inside info. Never bet the house when the house knows the cards from hidden cameras.

      • 2 Replies to phreecash
      • humongous_fungus_among_us humongous_fungus_among_us Oct 24, 2012 11:52 AM Flag

        Peng got a margin call, he doesn't control those shares anymore. Per the Oct 2 PR the lenders have simply agreed to wait 1 year to exercise their right to sell them.

        Pumpers suck, especially idiot ones that have been dead wrong for years and yet continue to pump anyway!

      • buys 20% of the company for $20M. LOL that is a $100M valuation which again is overpriced on assets vs debts and liabilities + operational costs. You know as well as I do the assets are over valued when they have been selling off assets at 70-80% of book value and near 50% utilization rates are the norm.

        Why is that Poly plant not IPOd and worth $3B+ or even generating positive cash flow? What was the design intent for depreciation alone when first guided $12-$15/kg. That is what Sarno was stating. That $12-$15 is the low end cost of Poly on Spot today. Forget manufacturing costs. The plant is dead, not viable and liekly not viable even after retrofits. $2.4B not viable means what?

 

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