is pxupa a buy?, page-16

Afex, just so not to make a mixed message- Orbis own 18.46%, so they may not still be buying- they bought through previous crashes. Other "value" investors are in, including Schroder, with 11.02%, and Maple Brown with 12.36%. Orbis hasn't bought in since early March, and Schroder bought in more in mid-March, before this last crash. Basically, everyone who has bought in is underwater.

Having said that, brokers have an expectation of a higher SP, with Deutsche having a buy recommendation, and a re4duced price target of 75c, down from $1.10. golman Sachs has a hold recommendation, with a price target of 27cx. These brokers made these calls after the last crash. Here's the link to the above if you're an AFR member:

http://tools.afr.com/viewer.aspx?ATL://3732f3c4-7d15-11e0-b192-76338fc39e8e§ion=tools

From this article, GS has said that PPX is a company that may have to refinance more than 30% of its market cap:

http://www.theaustralian.com.au/business/opinion/chinese-back-in-box-seat-for-whitehaven-coal/story-fn7rgef9-1226053542572

Best of luck, mate. In the AFR, Simon Marais from Orbis said he was comfortable with the new management of PPX- that though, was before this latest crash, but not too long ago. I presume he still feels the same. Cheers.