Agreed. My biggest concern with the company is lack of communication from the board. What you say sounds sensible but there are other sensible options. I wish the board would communicate their thinking and their intentions. In the current earnings environment the current board communication makes no sense. If pellet prices hold up then in a couple of years on the current trajectory GRR will have a cash balance in the region of $1B. Clearly that makes no sense. The board need to communicate what they are thinking. Are they building cash to pay for Southdown? Are they building cash as a buffer for a downturn to a certain level if so what level? At what point and under what circumstances would they return the cash to shareholders? My concern with the board is not their decision making but it is their lack of communications and transparency.
GRR Price at posting:
55.3¢ Sentiment: Hold Disclosure: Held
(20min delay)