this to me is 'throwing the baby out with the bathwater'. Sure steel is on the nose, high $AUD, Carbon Tax etc etc. I understand the low SP, but current levels seem a bit stoopid.
Possibly market wanting to bring OST up with BSL's discount to asset backing?? Looking at both Companies though, OST's assets appear to be much more diversified...but still include a decent amount of steel related assets.
I guess the risk for OST is a big write-down in both goodwill and/or steel assets and their debt levels do look a touch high?
Anyhow I increase my holding by about 25% yesterday @ $0.69. As I nervously put the order in, I had flashbacks of AIO orders @ $0.60 a couple of years ago....that worked out ok - also debt related - here's hoping OST bounces back hard.
cheers all
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