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Gold/Mining/Energy : Noble China (NMO) on TSE. Chinese Brewery Stock
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To: Ciao who wrote (176)6/16/1999 12:06:00 AM
From: Lee Matheson  Read Replies (1) of 248
 
I agree it could take a week, or longer, before the market responds.

There are still some things that NMO needs to do with the Shanhaiguan brewery before it can start reporting earnings, and there still may be some skeptics out there. The market will price into the share price any risk associated with the lack of finalization of the "Shanhaiguan" deal.

I also think many potential buyers are sidelined because an overall concern about a market correction (between now and October).

A market correction may provide an opportunity to buy more NMO shares at a lower price, but I would not count on it.

I think that if this agreement with the Shanhaiguan brewery is implemented successfully, even at 42% ownership of the Shanhaiguan brewery, NMO is undervalued.

In today's market, many company's share price appears to be valued on forward earnings. I think NMO is undervalued based on (past) reported earnings on only one brewery. Hence things look promising now that there could be two breweries providing earnings.

There is still no word about the one remaining brewery that NMO is having a problem with. I suspect the lack of word on this indicates the problems created with this brewery by the former NMO CEO will be even more difficult to solve.
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