re: i dontknow what happened
What's a convertible note? Is it like a denenture? But I don't see the word debenture used these days.
I recall from high school economics, debenure holders get first access to company funds if it goes bust. Shareholders last.
I gather the convertible notes can be converted to shares at a fixed future price. But if you don't want to as share price is too low, do you get your invetsment back 100%? Meaning your investment is guaranteed, sort of?
And is CSM going after this extra money (was it $70M) to fill a cash flow gap? And how does it affect CSM going (was it?) guarantor for the JML bank loan?
So, if bank has a call on CSM as guarantor to JML, and if CSM have cost blow outs, and WHATIF JML has problems? And WHATIF comodities go down again. And WHATIF USA goes into recession. Then what value is left in CSM for shareholders?
It shows Kiernan sold another million shares 10.05.2006. On that day CommSec says the sp. ranged from $2.76 to $2.62. Since then it seems (from the graphs and tables) that CSM has been all down hill since.
A similar down hill sp. happened when (according to Yahoo link above) Kiernan sold another 1 million on 03.10.2005. That day the sp. ranged $4.33-$4.08, prices never seen since.
On 17.08.2005 the sp. got to $4.35.
So, $4.30 ish is about as GOOD AS IT GETS. I mean GOT.
I say what Mel Brooks says, "Its good to be King".
CSM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
