I dont think the board will sell for a low price.. YOU said they will get filthy rich by selling the company for pennies. This makes no sense?
Your correct in saying that selling a product for less than it cost to make isnt smart. However they arent doing this on purpose mate.. Its called a down cycle and its unfortunate that costs haven't been able to come down lower than the price of spod but thats where we find ourselves and frankly, where most producers find themselves at the moment.. LTR is basically bang on breakeven which is a remarkable feat, so kudos to them for that.. SYA is almost there.. and the cost benefit analysis has been done on C&M and being able to weather this low price cycle and come out the other end when prices increase, FAR FAR outweighs the cost of ramping up again and finding and re hiring the workforce.
Did you DD take that into account or did you just look at some quarterly figures? if the latter is the case, then sure.. this isnt a great investment at the moment but the risk is reflected in the current share price. The upside is huge IMO
SYA Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
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