Sunday, December 11, 2005

SHNG update

Primer on my investment outlook

I owned SHNG - Sherlock Bay Nickel Convertibles FV of 20c at a price of 13.8c. The company went through a management restructuring due to long delays on its project. The convertibles are being converted to shares on a 7 to 2 basis. My breakeven price is 3.9c. The shares last closed at 4.5c.
I'll update the story later but suffice to say, that buying convertibles in a debt free company is a less risky bet than buying shares..


Post a Comment

<< Home