well you can never go broke taking a profit, but.......
Probably at the moment there is $3 per share of net receivables, cash & tax credits on the books
And 70% margins of sales for the next year.
For the 8 months till June 30th ~4.5mt (reduced output due to rain) x $400 (this is on the low side) = $1.8b, or $2 a share
It's not that it's great, but more - what else has such a underwhelming premium to the cash alone?
Ann: Dividend/Distribution - NHC, page-82
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