Correct me if I'm wrong, but isn't this the first power plant coming on-line with actual carbon sequestration (CS) technology? DUK has the Edwardsport integrated gasification combined cycle (IGCC) power plant and SO has the Kemper County project but neither does CS, although they are upgradeable to do it.
Like I said, instead of this pointless bashing, how about addressing my earlier posts about what I read in the Q3 report? Or are you unable to find it?
So after watching this stock bounce around between 1 and 5 over the last couple of years you chose to short is at the 52 week low?? You should make a double out of that since BK is ominously close, but your timing seems rather underwhelming as you could have made the BK call a couple of months earlier at ~2.
I have only recently started researching the fertilizer business and perhaps what is not obvious to me is to others. Anyway, I found that article to be quite useful.
Of course they do. That is obvious. But what is not always so obvious is the interplay of all the factors that determines those prices. The market realist article exposed some of that.
Why are you bashing unemon? He was able to point out to the board the link to Q3 2013 results that were released in Russia. I looked at that file, and made some observations earlier today. Instead of this pointless bashing how about a comment on what I posted?
Well, the stock has continued to trade in Russia since the earnings release albeit at a much reduced stock price, so this 'news' is priced in. The reports in recent days about debt restructuring also has put MTL in the position to release earnings in the USA and that also appears to be good news. But I think we need to see the US earnings announcement to properly assess what the company situation is now.
I am convinced now that they did indeed suffer a liquidity crisis. The question now is have they resolved it and how? We'll know more on Dec 23.
Total size payables 13133605897 of her overdue 44713698
- the budget and state extra-budgetary funds 155 148 491 of her overdue 44713698
- to suppliers and contractors 95812369 of her overdue NIL
- to staff 59211560 of her overdue NIL
- other 12823433477 of her overdue NIL
Okay, I managed to translate the file. The report lists two sets of 'Current Liabilities', even though those of IV appear to be long-term (long term loans, deferred tax liabilities, other) and those of V are short-term (borrowed funds, short-term loans, short-term borrowings). You can see that current assets were less than the current liabilities (both long IV and short V term) for all three periods listed, so I don't know how to interpret what these figures truly mean.
But I did look at this entry on p.11 that I believe reveals the liquidity crunch that caused the stock price to crash.
I. Summary of financial and economic position Issuer
2.1. Results of financial-economic activity of the issuer
--- Indicator "Debt Coverage current income" for 9 months of 2013 is is negative and is equal to (9.73)% in view of the above reasons ( same period of 2012 up from 30.24%). Negative index "Degrees of cover debts current income" indicates that the company's currently not possible to consistently pay current bills. During the period overdue payables Issuer amounted to 44.7 million rubles. (0.034%)
7.2. Quarterly accounting (financial) statements of the issuer Balance Sheet on 30.09.2013 (all numbers in thousands of rubles).
Date 30.09.2013 31.12.2012 31.12.2011
I. NON-CURRENT ASSETS 233,169,271 234,749,392 229,746,084
II. CURRENT ASSETS 18,220,007 15,044,087 1,782,169
TOTAL ASSETS 251,389,278 249,793,479 231,528,253
III. CAPITAL AND RESERVES 120,039,174 130,084,322 118,598,673
IV. CURRENT LIABILITIES 90,327,678 70,399,478 74,772,567
V. CURRENT LIABILITIES 41,022,426 49,309,679 38,157,013
TOTAL LIABILITIES + EQUITY 251,389,278 249,793,479 231,528,253
what industry? the tobacco industry? go post all this political crapola on a message board meant for that, not here you losers.
I don't really understand the discrepancies. Obviously the Russian markets did not like what they saw, and punished shares in response. Now that earnings will be formally released here in NA, we only know that whatever violations of covenants were preventing release are at least no longer an issue (for now). I prefer to wait and see the USD numbers instead of speculating about that Russian filing. We'll know just how bad the situation is in very short order.
That's what I read it as... PS: I think that is the 9month 2013 total (not just Q3). Profit (loss) before tax for 9mo 2012 is 22,046,942. I can't seem to match this up to the US filing though.
Could it be hedging against the large open interest in ITM puts expiring today and January? There's no action yet to close those positions out.
Definitely good news. MO is more advanced than PMI in e-cig development and this opens the world market to them at little or no extra cost, unlike LO, which has to build out their world market through acquisitions. RAI seems quite silent all this time... hopefully their initiative will do well in USA.
NG is just one factor in the big picture. I started reading those reports to learn more about the fertilizer business and outlook. I don't have a position in any of the big companies yet... just watching for now.
So here we are finally at a new high. Maybe 40's are in the future after all. PS: #$%$ all you dikks spewing out all the politically oriented posts here.... losers.