While I have some concerns with the current reliance debt and on a single income source (both of which have been fatal for other companies in the past when a spanner hits the works), overall there are enough positives going forward to keep me invested here.
You are almost there with your thinking. All you have to do now is recognise that that wise old bird, Poynton, is also aware that if Walyerinng stops prroducing ,the company is in trouble.. He is making sure that it will survive, until the Peaker Plant is finished by cutting down on expenditure and building up the bank balance. My assessment is that he has already done his job. Walyering hasn't missed a beat. They have Walyering East if needed i n the short term and I just don't believe the Peaker Plant will cost the $160m they have allocated to it.
STX Price at posting:
16.0¢ Sentiment: None Disclosure: Held
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