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VMG, VDM GROUP LIMITED
Pacsun
post Posted: Sep 13 2013, 02:59 PM
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Been a while for this one. New substantial investor as well as same as CEO. Has good contacts for futire work. Currently in dispute on a worksite but with cash in bank & new shareholder any thoughts?

 
Ian
post Posted: Oct 29 2012, 05:11 PM
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In Reply To: OZGAZ's post @ Oct 29 2012, 01:47 PM

Ozgaz,
my thoughts are:-
1) In their release they are mostly referring to past issues which they thought they had managed (and explained) based on expected outcomes (mostly legal and similar) but the outcomes may now be not exactly as expected, - or maybe more to the case, they may or may not be resolved as previously expected.

2) Slowdown in development of new work is a disappointing.

Neither of these is truly startling when you consider 1) is history they are trying to clean up, and 2) is known to everyone.
So why announce it then?.
My guess is their main concern is maintaining the support of their backers (of every variety) and they don't want to run to end 2012~13 before they release bad news (if in fact it works out that way).
They have targetted reaching end 12~13 with $300m + business and very much hoped to be in the black at that point. It would smell very much of old practices and tarnish the new management team with an old brush if they reach that point b4 comment from mgmt. So they are being 'squeeky clean' now, maybe prematurely in some aspects of the problems they are working though, in order to keep the faith of their backers.

As you point out, debt is miniscule and cash in the bank is $20m so they do not have an unmanageable problem and I can imagine lots of companies that would have made no comment under similar circumstances.

We just have to wait and see
cheers
Ian


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OZGAZ
post Posted: Oct 29 2012, 01:47 PM
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In Reply To: OZGAZ's post @ Oct 26 2012, 09:28 PM

Well SP smashed on the company update announcement released today...still, I was expecting worse so VMG still running. A little confused though as the report to shareholders pretty much spelt out tough times. They do have money in the bank and virtually no debt so why this was followed up with today's news hot on the heel of the previous report is strange IMO.


Cheers

Ozgaz



--------------------
Smile while TRADING it's only money... :)
 
OZGAZ
post Posted: Oct 26 2012, 09:28 PM
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In Reply To: Ian's post @ Oct 26 2012, 08:32 PM

Ian - Lets hope...I thought the report to shareholders pretty much covered everything, including the loss for the year and some other negatives ( I think a project ran over budget ?),ss therefore it was all out in the public domain. Correct if I'm wrong but I'm sure I read that they had paid down their debt so surely that is not an issue. Plus they picked up that contract with QLD roads so it is a complete mystery...I was hoping that we had all paid the price for past indiscretions by now !!!!


Cheers

Ozgaz



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Smile while TRADING it's only money... :)
 
Ian
post Posted: Oct 26 2012, 08:32 PM
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In Reply To: OZGAZ's post @ Oct 26 2012, 11:59 AM

Ozgaz,
This a surprise to me too.
My approximate understanding is VMG needs $300m + awarded work within 2012~2013 to be profitable.
They already have about $250m on hand and potential, based on tenders submitted, for work in the region of $250m~370m to be achieved.
We all know things in some areas are slowing but I had not imagined it to be so entirely epdemic. After all VMG has been awarded contracts recently so I had not expected an announcement at this stage that would be massively negative. In effect that would have to be an announcement that all (or most) prospect for further success during the rest of 2012~2103 is dead. I certainly did not glean this prospect from their report and on the surface it would seem to be premature to be declaring that at his stage of the financial year. However, as with you.

Of course neither of us has internal VMG information to guide me, but I cannot imagine another reason for this trading halt and that is concerning.
Lets hope we are both seeing gremlins that are not there.
cheers
Ian





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OZGAZ
post Posted: Oct 26 2012, 11:59 AM
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This doesn't look good....certainly the report to shareholders yesterday wasn't that pessimistic...

http://www.asx.com.au/asxpdf/20121026/pdf/429pln7cfq7b0j.pdf


Cheers

Ozgaz



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Smile while TRADING it's only money... :)
 


arty
post Posted: Aug 31 2012, 11:08 AM
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In Reply To: crusty75's post @ Aug 30 2012, 03:16 PM

ouch! Took a haircut this morning.

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With all the doom and gloom about the future of mining, our mining services all took a dive.
Look at ASL - that's suffered even worse.

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--------------------
I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
 
crusty75
post Posted: Aug 30 2012, 03:16 PM
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In Reply To: arty's post @ Aug 30 2012, 03:00 PM

I've been urging it on the last few days Arty. Picked up a few of the oppies at 0.8c yesterday on anticipation/hope it has a little run.

 
arty
post Posted: Aug 30 2012, 03:00 PM
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come on VMG, you can do it: Crack the 4.5 barrier rolleyes.gif

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good p&v in recent days

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--------------------
I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
 
OZGAZ
post Posted: Jun 27 2012, 01:07 PM
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Awarded another $27 mill in contracts ........bit bloody late after announcing a loss due to a stuff up on a previous contract. Means bugger all if you can't make a profit out of the awarded contracts !!!! get it together team !!!!

Cheers

Ozgaz grrr.gif



--------------------
Smile while TRADING it's only money... :)
 
 


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