₦airaland Forum

easimoni:
Russia's UC RUSAL restarts Nigerian aluminium smelter
Fri 22 Feb 2008, 12:48 GMT

MOSCOW, Feb 22 (Reuters) - Russia's United Company RUSAL, the world's top aluminium producer, has restarted Nigeria's sole smelter, which had been idle since 2000, UC RUSAL said on Friday.

UC RUSAL said in a statement it planned to completely modernise the Alscon smelter in southeast Nigeria so that it can reach full capacity of 197,000 tonnes a year in 2010.

It said total investment in the smelter's upgrade would be around $300 million.

The smelter was built in 1997 but produced just 40,000 tonnes of metal before closing three years later. RUSAL paid $250 million for a 77.5 percent stake in Alscon in February 2007.

The plant had originally been expected to restart in December, but this was delayed by a dispute with the local community over dredging of the Imo river, and the kidnap of six Russian workers at the plant in June.

The hostages were released unharmed after two months in captivity.

The Nigerian government retains a 15 percent stake in Alscon, while Germany's Ferrostaal AG has 7.5 percent. (Reporting by Aleksandras Budrys, Editing by Peter Blackburn)

http://africa.reuters.com/country/NG/news/usnL22169404.html

Gurus,
anything for the boys? Is this why Aluamco is firing? Any link btwn Alscon and Alumaco? Wendy na u esp.

No direct link betwn alscon and alumaco as far as I know. But the thing is: alscon is upstream while companies like alumaco and FAN are downstream. One of the biggest problems of the downstream aluminium companies is the fact that they have to import the refined aluminium. Aluminum prices worldwide are very volatile (upwards) and so it's been very costly for downstream companies to operate efficiently -- that, plus the fact that the ones in nigeria have to rely on erractic power supply which is crucial in the aluminium production process.

If the refined aluminium is produced in nigeria, this will save the downstream companies a lot of cost! With a company like FAN whose production factory is located in PH, alscon coming into production will save them costs both of importing and transportation, since alscon is located not far from them. The good thing about the alscon coming on stream is that the government owns about 30% of the company, so i'm guessing that they might force rusal to sell some of the refined aluminum locally -- to help local fabricators like FAN, even if selling internationally will be more profitable. So what can I say Better days are definitely ahead for FAN, assuming they can get their other costs under control.

Fatherof2 and myself had a brief discussion about this on Jan. 23 (you can go back and read the posts for more info) and here's an excerpt of one of the posts:

_{**disclosure** I've since cycled in and out of FAN (in at average of 3, out at 5.4) and might be recycling in again if I see another opportunity}

windywendy:
. . .  since refined aluminium is an essential raw material used by these aluminium companies, sourcing it locally (instead of internationally as they're currently doing) will go a long way in  improving their bottomline. . .

Mr. Risky:
Is there a PO brewing for DEAP CAPITAL Any info please. thanks

Yes. Rumored at N6/share. So, in my view, any price significantly above the N6 trading range is danger TS territory. Unless you don't mind being caught in TS that is.

aktopgun:
The windy one, i hail!!

You talk am. now i know better. i for light candle under them when u spoke but i didnt and now    

enjoy your loot girl  . chei! see money!

Your royal guruship how na?  

You never talk anything about Tobechukwu. How the little pea dey? Is he alright now?

E get one tin weh I wan talk, but make I clear throat first  

ehem-ehem: this one wey madam don dey talk say e be like say nairaland don become the 4th wheel in the family, my advice to you be say make you begin scale back your nairalandiness significantly o! We appreciate your contributions very much (honestly speaking!) and left to me, would like to perpetually read all those insightful TAs that you do -- I know the time commitment on your part that takes!. But hmmm, by the time e don dey cause uneasiness for house, na im be say we will have to be missing you on nairaland be that. Abi how you see am?

OK back to stocks.  

loma:
Great WIndyWendy,

Can you Wind us some stocks (in the mould of Niwi,Berger& Livestock) that we can Wend for the next 2 weeks?

hahaha! Great ke? That na AKtopgun, easimoni and londoncool o. Dem sabi no be small  

I don't have any stock recommendations today. The money you don make from the ones wen I recommend never do you  

By the way, this news with your broker and niwicable about to do a PO, how true is it? I'm seriously not aware of any impending PO, and to the best of my knowledge they're not planning any. Who be your broker?

@AKtopcandlegun   and Mr. Risky, where una dey when I was recommending Livestock bout 2wks ago? It was about 5.6 then (at least that's the price at which I bought). That one, berger paints and dunlop should have made those who bought some dough by now (although I didn't buy Berger, and I've long sold dunlop). Guinea ins refused to perform as expected, so I dumped and netted only 5% post commission  .

See my post below:

windywendy:
Berger paints -- I haven't taken postion here and probably shouldn't even be mentioning it knowing how badly those silent moneybags can spoil one's show   . But for you shig, I'll let it out  
Guinea insurance (CICO, i'm not holding for more than 10 days at the most) -- I know you don't do CICO but this is for those who care  
Livestock (seems people are mopping this one up. I just got in today though). But the company is doing a turn around and it seems to be working. Check out topline growth for the 9mth ended 9/2007 -- impressive. I'm hoping they'll get their costs under control here, so that all that growth can be translated to the bottom line. But these guys have all the qualities of a turnaround and I'm liking it . . .
Dunlop -- this one's a little bit shaky though. I got in on Friday and got some more today. They recently hired a new marketing henchman that's rumored to have the "midas" touch. Perhaps that's what's driving the price. I'll be watching closely and will get out at the first sign of any misstep  

That's it for now I guess.

pumping777:
I got my returned money for Access PO today. Fair. 70% allotment.

Whao, 70% is not bad at all o. I didn't do this PO because of all this over subscription and return money wahala. Abeg what's the next bam PO that'll do this type of allotment _{oooohhhh where's larryboy when we need him}

dollyp1cute:
@Windywendy
I no blame you na, na myself I blame say I for carry excess baggage on this flight as proper Naija babe especially since belle _gut talk say may I carry the overload.
Oya welcome join me chop the gurudi and epa they are serving

Guguru and epa ke? E be like say this one na special "honeycoated" one o! Oya make I kuku take window seat then

RoughCut:
Anything the windy hurricane lady touch Na to sweep am commot for floor. Na wa o!

Funny enough i was actually reading about ABC taking up the railway network franchise. The governmenti is in the process of ceding the railway monopoly and inviting private operators to partner with them  to run the system and guess what? when i use the word 'partner' it means the government will actually give the private operators money to run the network that will be making them profit and ABC is in pole-position!

Can u imagine?

Chei, see as I come shoot myself for foot.

@dollyp1cute, me think say by telling you, you go tell me "welcome on board"  . Considering the volumes I saw traded today, no be me sweep the stock commot o. I'm innocent!  

@Roughcut, I didn't even hear this news o. This one na icing on the cake then.  

RoughCut:
Which means you have that one sealed already and you don't want to arouse any interest in the stock on this forum. I understand everything you are trying to say no need to say more Ha ha ha!

Ah na so I dey look my spreadsheet early this morning dey look for stock wey I fit use do quick CICO. That's how my eyes come jam ABC o. Needless to say, I cycled in big time today. So dollyp1cute, na me and you dey for that flight now o. But I'm not in this one for the long haul though.

@yodiyokun, this your love affair with american politics na wa oh. YOu for kuku relocate come here na, so that you'll be closer to the action. Abi na?  

@Londoncool, pls forget the Donald Duke man, you can't compare him to Obama. Although I agree with Donne4real that a lot of people are over-rating Obama, but still I believe he's the best of the options we have out there. I would have preferred a guy like Huckabee, who seems more down to earth but then we're tired of the republicans already   Obama seems to be the best of all the democrats contesting. As for McCain, well . . . let's just say "he hasn't got it goin' on"  

RoughCut:
I must pay the £40K for the Said Bus school Oxford MBA before end of the year

Ok, ok, enjoy your skye bank loot!

But you suppose carry that 40k pounds sterling go dash your broker for all im hard work na Abi Pumping777 how you see am? It sure wouldn't hurt now, would it?

RoughCut:
Guess who has bought already and still looking but my own go pass 70% sha. I no even sabi wetin the percentages dey talk again for Costain now. Some things you no need to dey check them again.

Oh no! you again   . So it's you who prevented my broker from getting me my share abi? Anyway, God dey  

MyPeace:
@Sdeck
she bought from a bank, thats the problem, else it would have been her brokers headache.

@windy
yes, she filled the husband's name as next of kin.  l resolve he first goes to the registrars to know if they have sent the cheque to her postal address before any further action.
thx alot.

Yes, sounds like a good idea.

pumping777:
. . .
Whichever way sha I think it is good to take care of your broker even if na wit bottle of Gulder or _{children's school fees}.

Ah, this one is even worse. You carry pickin school fees go dash give broker say wetin? Make your own pickin dey sit at home dey watch barney and winney the pooh while broker pickin dey bounce go school to learn beta tin abi? _{chei, just the thought of it is giving me a headache already} That one na real state of emergency family meeting go happen one time.

On a serious note though, I think the idea of compensating your broker is a very good one. Nice one there.

frankiriri:
Yes it may not be tempting to you but we can't say the same for many other N'landers Well at least on this same thread many have sold their fathers land and used rent money to SIRO so I imagine that ' a little thing' like post poning college wont matter to them.

Anyway you may be right though. But my own be say: hell hath no fury like a mom whose kids' tuition money is about to be diverted to CICO. Na yawa be that o! Me I don talk my own finish.  

@MyPeace, sorry to hear about your loss.

Did your sister include her husband's name on the forms as her next of kin? That should make it easier abi? Alternatively, if they have a joint account the husband can wait for the check to be posted and then lodge it in. Another alternative could be to get the broker to pick it up and then collect it from the broker.

Iyke-D:
I think there is a mix up with regards to my use of compensation here. What I meant was
what will be refunded to Transcorp in cash or stake in NITEL and whether it will be $500m,
less, or slightly higher than what it has invested to date on NITEL.  The FG can not even
settle the NITEL staff that were let go two years ago how much more compensate individual
Transcorp investor - that will definitely not happen.

Ok looks like I misunderstood your initial post. No problem then.

The Admira:
WIWO Wind In Wend Out

huh This one no go work o! Na serious law suit go follow any attempt to use am

Pumping777, thanks for your help on the CSCS question I had. E be like say I have to wait for them to send me that all important email before doing anything. It's been 2wks since the brokers submitted the form, so it's looking like i'll have to wait 2more weeks. Na wa oh. Anyway i'll wait sha.

frankiriri:
Hope you yourself don't get tempted to do it oh. NSE can be tempting oh  

Ha lailai, me no fit try that kin tin o! The NSE is not that tempting

4wheel:
Now see what SIRO (I like that one) is doing to me.
I SNEAKED INTO Afroil and when bubble wan burst, I decided to RUSH OUT, but who sai, nobody gree buy the thing since Monday. Or is it a game by my broker to sell high and then reclycle the dough it to me at a low price value. Sigh!
Who wan buy Afroil? _gbanjo

LOL!!!   Na real gbanjo. _{reminds me of aswani market in isolo}  
Anyway, don't panic on Afroil. The company does exist and has been doing a lot of restructuring lately (google them to confirm what I'm saying). It will surely bounce back and you'll be smiling then. Just convert to long term, that's all.

SavvyLanre:
@Windywendy
Infact me ma self - i wan be your Godbrother,
On any stock you buy, just send me trade alert as well.

Yeah right, like that's ever going to happen  

Iyke-D:
@WindyWendy

Point well taken, but I wouldn't necessary consider my stake there considerable though, but
I guess one's man $10 is another man's $1000. Obviously I had the appetite for the PP risk
then and still do, but it will be untruthful not to admit that things are "very chaotic" with the
organization to put it nicely. Its still a gamble, may be a suicide mission, but what the heck!

Re-hashing the issue of why Transcorp found itself listed in the NSE today is sort of tantamount
to asking why Yar Adua is still in Aso Rock and making reversals. We are here now and what is
important is how and what the FG plans to give back to Transcorp shareholders in return for the
reversal.
Transcorp or no Transcorp, there is some consensus (at least there are some opposing views)
that the NITEL reversal or its announcement as a "reversal" was handled poorly as it could
send the wrong signals to the market. Well, its Nigeria, anything can happen, even the dry
bones comes back to life Isn't Andy Uba the governor of Anambra state again?

Pardon me, but I don't think the FG has any obligation to transcorp shareholders. They're not management and did not collect any funds from shareholders. They certainly did not make any representations or guarantees to shareholders, nor did they promise to refund shareholders if anything goes wrong. But you're right though, anything can happen, and the FG may well compensate shareholder for the nitel saga   Anyway, my best wishes to the shareholders of transcorp, this whole journey must have been a nightmare for them. It's been the biggest case of fraud I've seen to date. Makes me feel sad, to say the least.

nio68:
Hi Wendy,
please whats your take on ABC at its current price

Sorry, I don't know anything about ABC at the moment. But you can ask dollyp1cute, looks like she's the pilot on that jet

easimoni:
@ Wendy,
my respect for you just multiplied (irrespective of your support for Bill Belicheat  ) based on your Transcorp yarns _{oh and thanks for the Niwicable tip. 'folio is smiling}

To all those mad at the FG, let's wait for the details to come out. I worked in the deal-making department of a major oil company and our partners often wrote penalties for failing to meet performance milestones into our contracts. Who says the FG didn't so the same? The ability to make measurable progress to revive NITEL may have been a condition of the sale. No one can argue the fact that little or no progress has been made (still don't know anyone with a NITEL line).

Easimoni how na? Stop player hating because your team got whipped without even smelling the quarter finals  Admit it, just one of Bill will whip all of them pitiful colts jokers _sorry, players -- admit it now . . . , you know you want to 

pumping777:
To complete my story of the good customer service I had from CSCS Trade Alert yesterday.

As promised, my Trade Alert is now working as I have just recieved the text messages for my transactions today.

Well done CSCS!!!

Pumping777 e get one question wey I wan ask o.

I filled out the CSCS form to register for trade alert because these BGL guys are not online. I paid the N2500, handed the deposit slip to the broker and registered online at CSCS. That was about 3wks ago. Wetin I go do now? just siddon look or wait until I get an email from CSCS? BGL confirmed to me that they signed whatever part they needed to sign and submitted the form to CSCS. What do you recommend I do? call cscs or wait? Thanks.

ACL:
HI WENDY, 

Can u plese give just one stock against tomorrow purchse.
I was thinking of NIWICABLE or TRIPPLE G.
thank, waiting

What's your timeframe? I personally think that tripple G is in danger _sorry TS territory right now. I mentioned some weeks back that they were due to release results soon and are planning to do a PO, and that the price would rise subsequent to the PO. They have since released results and the price has risen consistently since the results were released. Right now, I consider it too risky to buy.

Niwicable is good for both short and medium / long term. I however prefer medium term on this one as I believe returns would be more than what the short term has to offer, even when compounded. My opinion though.

Rhemagirl:
Oga me, u are too much.Please permit me to be your Goddaughter because i like to follow connected people.You have a lot of insider information and for  u to say u dey for that Thisday Award, it shows that u are a big player because i passed the place that Sunday and i know the kind of cars wey i see there.Please don't forget me incase of small pp.

@Napolean: Me sef I wan be your God daughter o! na just a few years I take pass that your daughter wey you mention for one of your posts from before before. I go qualify abi? 

Seriously, we'll appreciate any PP news you can get. Please keep em coming.

loma:
Chams forms pact with Starcomms

http://www.punchng.com/Articl.aspx?theartic=Art200802190565823

I don talk am before. Their bill payment service is the deal that'll make these guys. Just wait until their access terminals can be interconnected with master and visa and they'll be gallopping away _{until some strong competition gets into their market space and edges them out that is . . .}

loma:
My portfolio is looking extremely greenish with Scoa(thanks to pumping), Niwicable(thanks to Wendy), Berger(thanks to Wendy) and Uniondicon (thanks to Prince11)!

Good for you!! I hope you know when to sell (depending on your investment horizon), so that this   doesn't turn to this   or even this  

Salvage:
@windywendy

No be like that o, we don pass that 'fire for aiico rocket' issue about two pages back.

Pumping made things clear to me.

Anyways, does anyone have a list of the recapitalized Insurance companies? or know where I can go and read it up?

Someone told me one of them is doing PP and I want to research on them.

_{them go say na only Insurance company this one sabi for NSE}

Ah no mind me o. I just dey catch up since friday. The pace at which this thread moves is alarming. I'm still catching up sef. Anyway, no problem, na joke I dey joke with you

loma:
You know you are thinking too much of your NSE portfolio when:

You tell your children they can't go to college yet because you are convinced you can make another 50% CICO on their education accounts when the market turns around.

I'm normally a very calm and easy going person o, but if hubby tries this kin tin, hmmmmm, na im be say thunder go strike o! Which kin yeye tin be that! God forbid bad thing   If na joke make you stop am now now. CICO ko, CICO ni.

Abu-Maryam:
@ Windywendy
Unity magic is performing, do u knw my entering price? Less than 9 naira, i dun mind selling it at 10 or 11. Mhm my Roll Royce, where is father of 1+1 ?

Good for you! But na Emmaachile you suppose thank for the unity bank tip

But wait o, why sell at 10 or 11? My take is that the price will be pushed to at least 15 before going on TS. So an exit at about 14 or thereabout would be more optimal. Na my opinion be that o, make your decision. _{**disclosure**Me sef get plenti plenti inside}

wanaj0:
Nothing spectacular. Q1 PAT was N2bn. Q2 PAT was N5.8bn. So if Q3 PAT is <N10bn it implies that the Full year will be about N13bn. That will give an EPS of <N1.00 which at current price is like a PE of 22.00. So to me, nothing fantastic.

However, Diamond is well positioned to issue a bonus which may influence the price.

Hmmm, I doubt very much if that would happen, at least not with actis being the core investor and being on the board as well. Bonus go result in EPS dilution and they don't like that. My opinion tho