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Shaft Sinkers

March 2011

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.

  • Epic Code:
  • SHFT
  • Price:
  • 192p
Shaft Sinkers’ year-end update noted trading in line with expectations with the commencement of projects with Anglo American Platinum and Royal Bafokeng Resources proceeding as planned, while the single largest project (26% of order book) at Eurochem's potash mine has moved into the main sink phase and remains well within budget. Two other projects for Impala Platinum are progressing well while the remaining projects remain on track.Broker Arbuthnot has initiated coverage with a pretax profit forecast of £15.1m for 2010, £9.9m (eps: 21.7p) this year and a record £16.4m next (eps: 25.9p), dropping next year's prospective PE to just 7.4. The broker's price target is 220p. Keep buying. ...

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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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