another day closer to delistment -- and another day without xing or qxm saying or doing anything to help each's stock price.
unless xing or qxm comes up with a midnight surprise it looks like both stocks in time (and xing sooner than qxm) will be delisted.
apparently Wu Ruilin and his son don't care that neither will ever be able to raise capital ever again -- and that all of their own stock -- millions of shares of xing and qxm -- will like that of the rest of us will become worthless.
It is bad enough living with the bashers here. Now we have a pumper who states multiple reasons that this stock is worth $10 to $15 per share. ChouTony's remarks now don't seem that unreasonable at 40c a share.
Realistically speaking, this stock is worth about 70c. News of the reopening of the mine might push it to $1 (I hope). A reasonable buyout offer for QXM again can easily push it to $2. We will get news of a sort with the reporting of 2011 full year earnings. I am reasonably certain this will happen mid May. My opinion.
Guys, don’t fall for the short hype. The short sellers are leveling one allegation after another. No matter how many times several of us debunk their charges, they keep coming back with more unsupported allegatioins. In reality, XING shares should be $10-$15. Between profitable mining operations; Chairman buying 1 mill shares for his own personal a/c; tremendous cash & book value; audited and clean opinion 20-F filings for years ending 12/31/09 & 12/31/10; new emphasis on unlocking the cash at it’s QXM subsidiary... false rumors about XING being one of those hyped Chinesse stocks... legitimacy of XING’s auditor (Grobstein, Horwath & Company LLP)... tremendous book value... etc... the list goes on... for all these reason, I believe the sub-$10 share price is a buying opp. Good luck.
"and that all of their own stock -- millions of shares of xing and qxm -- will like that of the rest of us will become worthless."
Unfortunately, Wus do not think their own stocks will become worthless. I think they plan for both stocks to be delisted whereby with no regulatory oversight they just can confiscate all the assets for their own. We have been caught with our pants down with no recourse and the Wu gangsters are continuing to rape American shareholders with no fear of prosecution. Meanwhile, the Chinese Gov. gives lip service to all the thivery that is happening by Chinese because they are doing it to Americans.
May people at Motely Fools rot in hell for introducing these sham stock to me!!!
you are right about motley fools pushing these stocks for many years -- they seemed to have fixated on the fact that qxm had all that cash and thus both qxm and xing's stock at some point would reflect that cash -- but of course what they ignored or didn't know about was the pattern and practice by Wu Ruilin and his son to run the two companies in ways that showed contempt for those to whom they owed a fiduciary duty.
the only reason I think the WUs should care about their common stock is because sometimes common stock is priced higher than the fundamentals of the companies would warrent -- stock prices often reflect not current conditions but future conditions and thus if WU could make investors think that down the road QXM/XING will have not 400 plus million in cash but 800 plus million in cash then the stock price might reflect the 800 million and not the current 400 million.
maybe now there is nothing WU could say that anyone would believe --- that investors see the father and son as almost criminal thugs and if so then short of xing and/or qxm beginning to pay dividends the stocks will never recover -- and both will be delisted before the end of 2012.