Still a coin toss

Finweek English Edition - - Marketplace Simon Says -

The Aveng re­sults showed im­prove­ment on pretty much all lev­els, but the min­ing and con­struc­tion group re­mains hugely loss-mak­ing at a 311.6c head­line loss per share, even though this is an im­prove­ment on last year’s 1 197c loss per share. The group has also im­proved its debt sit­u­a­tion, but is a long way from be­ing prof­itable. Even at 5c a share I would stay away. If Aveng is able to start gen­er­at­ing prof­its, there will be plenty of time to buy – and while that will cer­tainly be at a higher price, the risks will be much lower. Right now, buy­ing Aveng is akin to bet­ting on a coin toss.

The Old Mu­tual project in Sand­ton.

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