cujo,although some of your assumptions about me are a bit off...

cujo,although some of your assumptions about me are a bit off track, I do however have a very pragmatic view on stocks. I work @ BSL, and where the $$ are made, I know how tough we are doing it. A capital raising only buys time, maintains employees entitlements if the worse happens. Have a look at the prospectus there is a $540M shortfall in their super scheme, to cover this it's almost half of the capital raising. In the end all the infrastucture to produce steel has to be kept operational it chews up lots of $$ without a profit. Yes if you see rosier days ahead maintaining operations is a good move, but if the glut is protracted it'll buy a few extra months, maybe a year. I'll keep it at that.