Yes, I think it looks like a decent deal (well, as decent as one can get for this kind of deeply cyclical, capital-intensive, high-fixed cost business) and is sensibly structured.
What I can't understand is why the share price didn't open higher given the market had the entire evening to digest the announcement.
More than 330,000 shares traded at 28.5c and less this morning, and I duly tried to participate in as much of the buying as I could.
(Now all I need to figure out is what the business I've bought is really worth!
This isn’t really investing on my part; instead, it’s more just announcement-arbitraging.)
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ACF Price at posting:
29.5¢ Sentiment: Hold Disclosure: Held
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