Where to from here, page-61

While I agree that QIN's profit figure is overstated, I can't see any justification for a price of 45c. There are many positives at that price:

Operating Cashflow Yield on 2016 of 12.5% (and the company has indicated that this will rise for 2017).
Dividend yield of 6.7%. Not bad. And dividend is half of Op Cashflow.
Borrowing is highish, but not outrageous. Net borrowing was 32% of equity last time I looked - may have changed recently.

So after getting out around $1.35, I'm back in between 63c and 41c. I'll be sitting on that for a while, but if the price goes down further, I'll be in for more.