No advance notice...nothing. The results just show up. Probably a good idea. Loss per share. Absolutely no reason for the stock to go up on this. And these results are from a q that ended about 10 weeks ago. No indication what is going on currently. Copper prices are down and there's nothing the company can do about that. Book value remains strong, assuming it is not a fabrication...some Asian stocks have a way of making things disappear into thin air. But you can't take book value to the bank and cash it, even if it is a real number. And since the controlling shareholder can just let this company drift we won't be getting any dividends or buybacks any time soon. 850 shares traded, no efficient way in or out. Total value trap, although the value part of the equation may come into question soon.
I'm down big time on this one. My own fault. Bought on a recommendation from a proven source without doing my own dd. While I had anticipated a relative slow upturn, no go. Is there any reason / rationale to think this has any upside? Can't take much more of this slide.
So am I and so did I. Lesson learned. Not that I want any more selling pressure but I doubt there's much potential here. Stock trades by appointment and the business is on the other side of the globe controlled by another company on the other side of the globe. Don't suspect they care much about US shareholders and the 3q report, with no prior notice, no information and no conference call is further proof. I will probably hold on until next year with whatever trading is going on now tax loss selling. Best case in my mind is the controlling holder buys the minorities out at some unattractive price, because it is in their best interests to do so.