interesting to note

There are a few posts here about broker recommendations (which i didn't bother to read), thought instead i thought id bring some of my own facts:

Last year full year results: $42m profit after tax (or there about) share price trading between 50-60c.

THIS YEAR: Half year profit: $85m (or there about) (Double last years full year results), plus lets not forget that back payment that Bluescope made (around $70m from memory)and with the new pricing system the second half of the year (while pries maintained at considerably high levels (about $222/t Av for GRR product -from quarterly) we can expect a minimum of another half of $85m in profit MINIMUM.

So hypothetically, we have a ordinary full year profit of $170m (Or Profit of $240m after extraordinary items).

So with a current market cap of $540m we have a P/E of 3.12 or 2.25 (after extraordinary item).

Cash on hand is about $183.7m (including receivables from qtrly).

EPS between 15-20c and the share price is barely double that..

I think there is a strong case of a HUGE re-rate after the full year results are released.

The market is irrational, and there are many investors that DONT do their research, and BUY after the fact... So when the results are released we get the Buying from 'sophisticated investors'

Goodluck, but how this can be anything under a HOLD is beyond me.. I bought back in a couple days ago at 47c and this time im staying for the long run!