Good News & Bad News, page-34944

Even the analysts had some trouble undertsandign this and I actually don't understand why its pretty straight forward

They are in a position where all forecaster capex can be taken from their cash reserves and their earnings in the short term is expected to be materially down from prior periods due to softening in prices, but PLS is still finding the marker strong on a volume basis they are clearing all their stock without issues.

with the above it makes sense to hang onto the cash and not subject themselves to liquidity pressures by giving a dividend out - Staff are running full steam ahead with various different projects whilst keeping an eye on any inorganic growth opportunities

whilst this is all happening they need a strong balance sheet and makes sense they dont want to impede the roll they are on - struggle for people to understand the company is very much in a growth phase and if you do the calculations on where they are heading its a good deal to be an owner.