Ferrexpo Forum

All these recent developments with FXPO make me feel that we are standing on the verge of new shocks. In late October the largest minoritary sells all his shares. At the beginning of November majority stakeholder leaves the company`s supervisory board. After that the company decides to make another bond offering. This month the paper`s dynamics will be very volatile.

Guys, do you have any thoughts on oil? What with the OPEC recent agreement? It is expected that oil stocks will rise for the next few weeks. Thus, many people will be selling other stocks (including iron ore) creating downward pressure on their share prices….just to bail into oil stocks....I anticipate decline on the next week. What do you think??

Yourjack, that was probably why it slipped yesterday. USD 57 mln is not that much in the big picture. No idea if seizing Ferro would be remotely possible--I guess anyting is possible in Ukraine, but that seems like a stretch.

I heard today that Ukrainian central bank filed a lawsuit to recover USD 57 mln from FXPO`s owner. He controlled recently insolvent Finances and Credit bank. The court may oblige the state executive service to arrest his property, including FXPO. Have any ideas on this? Maybe this was the reason for today`s drop?

A few weeks ago FXPO decided to make another eurobonds issue. They don`t have enough profits for debt repayment. And as you said, production volumes decline. Strong sell, as for me.

According to the Company`s recent report, for 10M2016 Ferrexpo reduced commercial iron ore pellet production by 4.6%. The owner is at loggerheads with local authorities... I`m going to sell.

Onedb1, again see your point... Hold or buy, heh heh. The dip surprised me a bit, but it happens. Antonio, so far it's weathered the storm. Kind of old news unless there is really something new. Had my panic attack already a week ago. Shrug. Haven't seen anything on this since last month so I'd be more watchng world demand/production than worrying about politics for now.

he bankruptcy of Finances and Credit Bank will bring lots of problems to Ferrexpo investors. I have talked recently with some locals from Ukraine. Their central bank governors consider the possibility to take Ferrexpo under their control. Zhevago gave his guarantees while obtaining credits from their central bank. Later the bank collapsed. So, now Zhevaho has to respond with all his assets, including Ferrexpo.

!!! sorry for the double post.

onedb1, what are you thinking re 130? I thought it was going to go past 130 too.. was thinking like you... It's not enough to say it's lost momentum--but you can see by my earlier posts that I was going back and forth to begin with. Anyone following China closely on this?.