a fresh look

There has been a lot of doom and gloom posted here by many, but lets sit back and look at some of the positives that I believe can make BSL a worthwhile investment at the current prices.

I’m not a shareholder, but I am currently looking closely at the company and one thing stands out clearly.

And that is, that BlueScope Steel is now ready and poised to take full advantage of any market upturn.

Why?

1. BSL is now well funded, with any threat of liquidity problems pushed back to at least 2011.
2. With the recent successful blast furnace re-line, they now have the spare production capacity to meet increased demand without any major interruptions, due to required plant outages.
3. They have excellent employees, whom they had the wisdom to carry through theses tough times. Again, as the demand for production increases, this means that they have the experienced staff on the floor ready to fire up the show as required.
4. They have some of the most modern and cost effective production units in the world, which means that when sales pick up, profitability will not be an issue.

All this means that even with the recent capital raising diluting the share value by a significant amount, the stock is starting to look attractive.

Cheers