I like growth companies like OMH, using the worlds cheapest...

I like growth companies like OMH, using the worlds cheapest power to produced ferro and manganese alloys. with no taxes on imports, exports or profits. Based in Singapore and incorporated in Bermuda. Profits and turnover increasing by a huge margin, sometimes the risk is worth it for the reward.

OMH?

Really?

A deeply cyclical business that carries something like $500m of debt, a level equivalent to more than 4 times EBIT generated in FY2017, a period of product prices well above average?

And a company that, basically makes losses in something like 4 years out of every 6, and that - even with product prices many standard deviations above their long-term averages - manages to generate Gross Profit Margin of something like 21% and EBIT-to-Assets of just 10%?

I'm not sure how you can classify that as a "growth" company (what happens to the company's profits when the manganese ore price and the ferromanganese prices inevitably normalise?), let alone put it alongside such fine quality businesses as AMC, IFL, SCG and WBC, which have significant commercial moats and demonstrated track records of creating value for their owners over long periods of time.