How long before we see Phumelela at R5 a share?

Just had a chat with my broker who tells me they a superb buy at these levels and will be 20 rand come year end so help yourself.

harry hotspur wrote: Just had a chat with my broker who tells me they a superb buy at these levels and will be 20 rand come year end so help yourself.

Your broker probably believes in the tooth fairy, Santa clause and the Easter bunny..................

Told me to buy capitec at 1 rand do you know what they are today?

harry hotspur wrote: Just had a chat with my broker who tells me they a superb buy at these levels and will be 20 rand come year end so help yourself.

Is your brokers surname Wainstein?

No but his first name is the same as yours mike.

I foresee phum delisted before the end of this year

Its a no brained.. the mkt knows

that stock lw sold to members had a restraint on it. anybody remeber when the buyers are allowed to bail ?

An interesting day in court it seems and one that Phumelela can not be happy about.

After Phumelela called for the urgent application, they delivered an extraordinary long affidavit detailing their claim. This document ran into the hundreds of pages. Both the Gauteng Province and the Gauteng Gambling board submitted answering affidavits and Phumelela have now asked for time to respond to these. You would think it would be the other way round wouldn't you? The matter is not finalised and it appears that Phumelela has lost its urgency seeing it could not give assurances that it would respond this week.

The one thing that will be sure to be sending chills down the spines of the Phumelela legal team is the fact that both Gauteng Province and the Gambling board have submitted that Phumelela have not used the tax break to further the interests of horse racing as was initially agreed too. As we all know the only entity that has benefitted from the tax break has been Phumelela themselves.

The writing is on the wall.

Share price now at R5.80 off low volumes. The buyers are calling for R4.40.

Get those seat belts fastened, the market is correctly reacting to the reality that this model is now not sustainable.

This share now appears to be regarded as flea ridden and mangy. Not many listings recover from that perception.

The part that intrigues me is how little comment this descent into the abyss stimulates on this site. Most posters still remain largely focused on the likely winner of the 3 o'clock race at wherever....

Another week or so of this and there may not be another 3 o'clock at wherever. Or...as another poster so sagely put it : They will be racing against each other for a pie and coke.

OTA/Garrick once again spot on 100%. Its over for them, I wonder if those fat salaries will continue?..also would love to see stakes projections for next season.