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Hargreaves Services - Tower Colliery approval expected before Christmas

October 2010

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • HSP
  • Price:
  • 675p
Durham-based Hargreaves is an old friend to Sharewatch and has featured several times before. The group's various businesses are all involved in coal in one shape or another and its range of activities includes importing coal from Russia, transporting it in-country, physically loading it onto the conveyors that feed the nation's power stations and disposing of the enormous quantity of ash that is produced. The company also operates down stream and owns a couple of valuable coal assets including Monckton Coke Works and also Maltby colliery.Since our last main recommendation in October '08 at 580p, the shares have been up to 820p but are now back down to 675p where based on eps forecasts from broker RBS of 105.2p for the year, they ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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