"So their market cap today is only $57Million,
That is lower than most penny dreadful mining exploration companies that have nothing, no cash no income."
@drifta,
Yes, that is a sobering observation which provides some good context given what has happened to TRS's market value over the past 6 months.
With the exception that penny dreadful mining companies don't have the near-$300m off-balance sheet liabilities that TRS has.
But, granted, at the current market cap, if they can stabilise the business, then it does look decidedly cheap. But in the meantime, I fully expect to see the dividend passed this year
[*] in order to bolster the balance sheet.
And there's a half-decent chance that before current management are even able to demonstrate any traction in turning the business around, someone else will acquire the business from under their feet and carry out the turnaround and keep the ensuing value uplift all to themselves.
[*] If not both the interim and final dividend, then certainly the final one.
(20min delay)