I've been in BSL since the launch back in 2002. My plan for BSL was to partially fund my first few years of retirement however 5 years in and I haven't sold any as the price hadn't reached the price I wanted. My thoughts for selling BSL were due to the lower dividend yield (3%) compared to my other investments. I probably will start selling BSL in this FY as I don't want to dip into my Super yet and it appears BSL is stuck in the $18 to $25 price range and unable to break higher. I believe BSL is stuck at the current price range as it is listed on the ASX so it doesn't attract the big money from US even though Northstar is one of the most efficient steelmaking plants in the USA which also owns scrap merchants and a downstream business. The Northstar business by itself should be worth more than the current Market Cap on the ASX. The only ways I can see a significant upside is if ... - global steel demand increases quickly and outstrips capacity as per the period before the GFC when BSL had a Market Cap of over $A25 Billion -There is a takeover bid for the USA business or the Board decide to sell the Northstar business to maximise returns to Shareholders.
If the share price goes a few dollars higher I will start to sell. Not advise just what I'm going to do.
BSL Price at posting:
$24.22 Sentiment: Hold Disclosure: Held
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