Updates

Hargreaves Services - Remedial works at Maltby going well

August 2012

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Hargreaves' pre-close statement noted that results for the year should be in line, with pretax profit of £47.5m expected, while net debt is expected to be £78m (some £15m lower than forecast). Clearly, the most keenly awaited information is regards its Maltby mine and the good news is that remedial works, involving an extensive boring campaign, have not uncovered any more geological shocks. It therefore still expects to re-commence production at the T125 panel 12-16 weeks after the initial problem was uncovered.Although global coal and coke prices have fallen in recent months, Hargreaves is protected by the long-term multi-year nature of its fixed price contracts. While the shares ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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