Can somebody explain why AYN is in a trading holt, JP Morgan owns 25% of the stocks. Could the announcement of 2bil fuck up have anything to do with it?
Will be a good time to buy if drops around 3.5.. Or isnt it worth it? I remember someone on here saying management is no good.
I was going to buy into them back when they were worth around .10 glad i didn't, maybe it might be a better time to buy??
This is just my personal opinion, and I have not done extensive research into AYN But there are 4 reasons why i would never touch this company again unless i was a day trader... 1. too many shares on issue and they keep using their shares outstanding as money (ie printing money in the form of shares) same tactic used when they were Macmin (which died financially) 2. same as number 1 3. Same as number 1. (yes its that important to me) 4. They dont have enough silver at a low enough cash cost to be a long term player OR be attractive to buy by another company. This stock might be great for traders - but looking at investing in them - i would say never again for me, unless something changed.
It's a rubbish business and they're just trying to pull the same thing as the Macmins did. Using the gimmicky spiel "one of the few pure silver companies in Australia". The old management pulled big salaries out of resubscribing shareholders for many years with that angle - "just wait till silver goes up the margin will be great" - never made a dollar of profit, and they still roam amongst us. Unless you're a cynical trader, with no commitment whatsoever to the business you put money into, then steer clear of the AYNs and their ilk which are honey traps that infest the ASX listed register - Buy something that has already proved it can make a profit and pay up for it, but at a reasonable price.
I think it was David Morgan who said he ignores any deposit resource of silver under 30 million ounces Perhaps, everyone's money might be better spent in one of the other silver companies on the asx with better matrices for investors. CCU, SVL, ARD Definitively not saying you cant make money off AYN (goodness knows the management are making money off you), but like I said above - id be trading it - and im not a trader so i wont be.
