I know there have been several threads on one but I think it is worth taking another look. I must admit I would not purchase for the long term until things settled down, but the short term profit has been pretty good! I've been buying this share regularly over the last few months. Usually selling within 2 weeks with a 10 - 20% profit. The price always drops again and I start all over again.

The company itself is quite solid. It's biggest problem is cash-flow (caused by overproduction, and not enough sales so are carrying a lot of stock). They have managed to refinance the short-term lending, and have been reducing this, which if they can keep reducing it, it could stop being a problem.

Of course the uncertainty's over the plans of the Russian Investor Usmanov (which is still just speculation as he has not actually done anything about increasing his stake yet) and other press which also has been just speculation and not FACT has not helped the price continue to rise so instead it has YoYo'd and I and I suspect a few others have been making use of the opportunity!

Hi little woman,

indeed the price drops again but for how long and how many times ? One day there will come some good ( or bad ) news and then you might be to late on buying or selling. As far as i know CS is still negotiating with the banks to refinance the short term lending witch expires in Jan 2004. There was only news about the demand of the banks.

Good luck trading !

Mouth - The news on the 4th June, Corus confirmed that they had agreed "new heads of terms" in repect of the the new banking facilities which will replace the existing overdraft facility you mentioned expiring Jan 04. The new facilities will give them another 3 years to sort themselves out, which they seem to be well on the way of doing.

From what the dutch investors have asked on the other threads, they all feel that Corus is a better bet than before, far more than investors in the UK seem to feel, and they (the dutch investors) don't really understand why. I actually agree with them which is why I have been taking advantage of the price movements in the meantime and done very well thank you.

So what about being late on buying or selling - this is the risk we take with any share!

The trick like any investment is not to invest anymore than you can afford to lose, and when you take profit, invest it elsewhere, so if the news is bad all you lose is the initial stake that keeps going round in circles. And if the new is good and you have already sold - move on to another company!!!! And of course if you haven't sold enjoy the extra money you are making.

Extract from Times online

ONLY a few months ago, the two halves of Corus, the Anglo-Dutch steel company, were knocking seven bells out of each other in the courts. Now, after a change in management, it is enjoying entente cordiale or hartelijke vriendschap, as the Dutch would say.

The scrap earlier this year was all about who ran the company. The management largely Brits, led by Sir Brian Moffatt wanted to sell the aluminium arm to Pechiney, the French metals group.

No way, said the Dutch, who feared the money would disappear into Coruss loss-making British business, with none invested in Holland. Leo Berndsen and his Dutch colleagues went to court and won. This caused a crisis, and the departure of chief executive Tony Pedder and then Moffatt a few months later.

Their replacements, Philippe Varin and Jim Leng respectively, have restored calm. According to MPs on the backbench steel committee, who travelled to Holland last week to meet their Dutch counterparts, there is now a willingness to work with the Brits. Helen Jackson, who chairs the committee, said: We believe we are in a new era with a new leadership committed to a more open and confident approach in both countries and working towards a common culture. Part of the reason for the rapprochement simply seems to be that Varin is French.

The sweetness and light may not last, but its a step in the right direction. If this mood spreads to the banks and bondholders, who are expected to finalise a financial restructuring over the next fortnight, there might be some light at the end of the tunnel.

Hmmm i guess i am the dutch investor hihi. Well on Dutch forums corus is a pretty hot item and i only can say that if the stock would have been made in the Netherlands i think the stock would be about 25 pence now. dutch investors indeed think that the Corus price per share is well under it's value since the last update on refinancing. Even a lot of the dutch blame the conservative ( hope i spelled it wright )Brittains that the stock price is only 16 pence.

The estimated stock price end of this year by dutch investors is about 0,60 euro cent ( 40 pence ).

I myself estimate a stock price between 0,65 and 0,70 euro cent ( 0.45 - 0.48 pence )

time will tell :-)

Lisette

Hi Liesette,

I must agree with you about Corus. The UK investors have been vary of this share because of it's poor history in the UK. Also there has been so much bad press (most of which has been just speculation)about the company. Ironically some of factually news that have been reported have been taken here in the UK as bad news, although in reality it was good news for Corus!

It wasn't until I took a really good look at the figures and did a lot of homework on Corus, I realised that compared to a lot of "less riskier companies" Corus is actually in a much better state than them, with a really low share price! I have found shares like this only a couple of times before!

(For those who are interested - I purchased Royal Bank of Scotland shares the year after the first Gulf War, at their lowest because they had just droped because they had just started Direct Line and the investors at the time thought wrongly it was a bad move! I think I sold out 2 years later at 400% profit - Ironically my RBS bank manager at the time thought it was a bad move to buy the shares! Then in 1995 I purchased Forte shares at it's lowest as Rocco Forte had just sold a load of shares to finance an extention & building work which his wife wanted on thier home. The shares dropped like a stone on the news! I thought the company was solid, as did Granada who a year (?) later took the oportunity to take them over. Although I didn't support the takeover, I still ended up with just over 300% profit.) Both these shares at the time I purchased just reached their all time lows, and many people thought these were high risk investments at the time in the same way Corus is thought to be high risk!

An interesting read.

Well on the news that Corus would consider selling teeside ( or close ) is was a big surprise in the Netherlands that sthe shares dropped on that news. Because corus needs to cut else they neer will be profitable. In the Netherlands before the English reacted on that news the Stock rose untill it was levveld equally cause the Stock in Engeland dropped.

After that event most Dutch investers where a bit astonished that the stock dropped. Since that time they blame in on the conservative aproach in Great Britain.

But in the end i am sure Corus will rise again and will get out of the pennystock range. Only the question remains when that will happen, 1 year, 2 years or longer??? time will tell. I am patient and even if Corus rises 1 penny a week or month i won't complain, 1 penny rise is about 1 month earnings cause i have a pretty bundles of them shares.

Corus is still dropping! I wonder how far it will go. I really want to buy more, as this companies shares should not be so cheap. All it'll take what the UK investors consider is some really good news and it'll be back up to 19 or 20p again. I hope the dutch investors are taking advantage of the price.

Steel prices in Europe are steady, with hot rolled plated steel up 5% so far (in euros so in sterling the gain is over 13%)

If Corus could confirm the refinancing arrangement which have been agree to cary through to 2006 it would really make a difference. But as the existing finance in place does not end until 2004, I supposed they see no reason to let us all know now!

Definately one to watch!

this must be my all time best tip. tipped at 4p and its zoomed. unbelievable when i saw it at sub 10p. i was a regular trader at well over a quid.with the spread as low as 0.1p it has to be a good trade if you can spot the dips in time.

Seems Corus dropped on Friday as its credit rating was cut by Standard and Poor's.This is the type of thing which is holding back the buying.Still one for the short list.

Picking up again today!

I've been trying out the free level 2 offer, and although I've worked out what a lot of it means, some of it is still ??? - I think CS. should open up in the morning but I could have misunderstood the data!

Purchased yesterday morning @ 14.25p - now able to sell at 16p - 12% profit in just over 24hrs!

I wonder how far it will go before going back down??????

little woman: how did manage to purchase @ 14.25 yesterday morning? best i saw was CS.@ 15p

Sorry, I got it @ 14.44p (just checked my notes!!!!) it was soon after 9am

Corus Group PLC
03 July 2003

3 July 2003

The Central Works Council of Corus Nederland gives positive advice on banking
facility

On the 4th June, Corus announced that as part of the process of securing a new
three year banking facility to fund its medium term working capital
requirements, Corus Nederland BV's management board would consult with its
Central Works Council. These consultations would consider that the terms of the
new banking facility will include the provision of security over, inter alia,
the shares of Corus Nederland BV, and the intermediate holding companies above
it.

Corus is today pleased to announce that the Central Works Council has given
positive advice which will facilitate the ongoing process of securing the
replacement banking facility.

END

I sold half my holding @ 17.29 yesterday - kept half incase it went up more, and if it drops again then I'll buy again.

I really love this share!

Up again today, but I think it's nearing the end of the run. Do I chicken out now, and sell the balance of my holding and hope it drops again (as it has done several times) or stick it out to see if it can go further........

its been a great day trade for months and ive been plugging since 4p. informed sources say break up value is at least 35p. never mind the order book.

I don't need sources to calculate it.

all the info you need to calculate the intrinsic valeu of the stock is located at www.courusgroup.com under investors.

Lisette

Share just hit 19p - so I sold the last of my holding. Will buy back if it drops, as the company is worth a lot more than the share price - so I'm not worried about this one. (The only worry is the price won't drop again!)

Corus dropping fast! Currently bid 18p! I'm going to have to pay for Level 2 soon! I've got it on a weeks trial at the moment and the current sell depth is 43/total orders 8,800,000+ and the buy depth is 19/total orders 2,500,000+ !

I think this one may have a way to drop still!

Buy now 24/orders 5,400,000+ 10 min later - things do more fast! (Sell little change)!

Closed at 17.25p - lots of late buying, but no where near enough to bring the price back up yet. Tommorrow will be interesting! By close the price was 10% below the price I sold out this morning.

Late auction was interesting, huge buys at way above mkt vals as at 16:30, manipulation, i should say so.

I also found it interesting that on Friday Morgan Stanley Securities disclosed that they had disposed of its shares so that they no longer held a notifiable interest.

Then on Monday they disclosed that they held approx 3.02% of the companies shares! (Just under 95,000,000 shares - which I presume they purchased late Friday through to up to just before the price fell back!)

4th July
LONDON (AFX) - Shares in Corus Group PLC were extending their recent rally after ABN Amro upgraded its recommendation to 'buy' on hopes of positive newsflow from the steel group in the next three months, dealers said. The broker, which formerly rated Corus shares a 'hold', set an initial target price of 23 pence. "Corus is still a speculative investment at this stage but we see a big gap between the current share price and where it could be if the group achieves its goals," ABN told clients.

It argued that the troubled group is stabilising, with new financing
agreements with banks -- including ABN itself -- having already been pencilled
in. "We await confirmation of the final syndicated facility and expect this to
be positive for Corus's equity," the broker said. It also reckoned Corus has seen an improvement in its loss-making UK operations during the first half 2003, helped by steel prices, sterling and cost-savings.

This should be enough for the group to show a profit for the UK when it
reports interims in September, ABN said.

The broker was also encouraged that Corus chairman Brian Moffat has a strong
track record of corporate reorganisation, given the group is faced with further
restructuring in the UK costing an estimated 250-350 mln stg. At 10.11 am, shares in Corus were up 0-1/2 pence to 18. They have rallied
from 14-1/2 pence over the past five sessions.

LONDON (AFX) - Struggling steelmaker Corus Group PLC said it expects to report a 100 mln stg improvement in its first half operating result before exceptionals compared with the 141 mln loss seen in the second half of last year but it said market conditions are still tough.

The comments accompanied news of a new 1.2 bln eur bank facility that replaces one that was due to expire in January next year.

newsdesk@afxnews.com

cw

Looks a bit better now - yes?