northroo1, I once had faith in BSL. Used to own the stock.
Let's face it. BSL is on life support (perversly if it weren't for the crazy carbon tax, it wouldn't even be able to get the relief brought forward).
On the other hand, there may be another "steel" company out there paying a dividend and is on a shopping spree for IO mines.
With BSL, the thing to keep an eye out for is the next capital raising around the corner.
Holding onto this stock in a way is lining the pockets of those greedy grand prix who gave themselves $3M in bonus when the company lost a $1 Billion and had to fire 100 workers (and that may not be all).
Looking at input cost, coking coal is in perpetual short supply. IO prices is tipped to go lower beyond 2015 only. This assumption is already deemed too optimistic as supply is stubbornly difficult to increase in the short term given cost, skills shortage and other bottlenecks. If India starts to industrialize like China, IO prices may even go higher.
BSL Price at posting:
59.7¢ Sentiment: None Disclosure: Not Held
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