Hi Mr B,
I agree with your statement that “…… we are quickly approaching hour…..”.
FGR is becoming the master of the MoU. They must have formulated a wonderful MoU template by now. All we hear about is a MoU here and another MoU there, but little else, despite all the hype that is being generated. Gerdau is probably the best example. I think the pending Gerdau announcement and the prospect of a 50/50 joint venture arrangement is the one single thing keeping the sp where it is.
If and when the Gerdau announcement arrives, it needs to be pretty special. The expectations around Gerdau have been well and truely set. Anything less than an exceptional announcement will not be well met by the market and SHs.
As can be seen by market reaction to yesterday’s announcement regarding the AMD MoU, it is sick and tired of such announcements. This was a good announcement and yet the sp retreated by 7.8%. I am sure this specific market response was a surprise and shock to all SHs. It is fair to say that this event sent a very strong message to FGR management, that the market wants more than these “nothing” announcements that don’t put money in the bank.
Hopefully, Gerdau will be our saviour. That announcement can’t come quickly enough.
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