Ok researcher100 If the big fish’s want in, why would I want to get out, I wont to get more shares. I will try to tell you the cut down game I am watching!!! LLA was and still is a great business. It over capitalised like most companies did and didn’t see the crisis coming. Then the lender MFS went belly up. That’s when the game began. Everyone was hoping and wanted an asset fire sale! many came a calling.
James I believe approached the ACCC to be the king of the mountain (control all the snow field in Australia) and was told No. James still needed a piece of this great company and to have his say in how it is run, he just needed someone on the board, so one of his many companies Artic financed lla for a 50% steak.
If you look at the turn around in half-year results 27/2/09 you can get an idea why company’s wanted the assets. The business can make money that’s why the share where $1.00 in the first place, is the company now worth 0.025c after refinancing? I don’t think so.
The company now also can reduce spending costs, now that most assets have been upgraded and hoping more people are coming to see or try the new assets out.
So now life is good the penguins are happy the snow is falling and lla is on its way back. The share price I believe will follow in good time. So every now and then I buy a little more shares,Its only the first half. I’m looking at holding long-term 2 to 5 years and hope to sell down along the way.
Hoping there is no unforeseen ugly surprise in the finances out very soon
LLA Price at posting:
2.6¢ Sentiment: Buy Disclosure: Held
