They really couldn't have timed things any worse - all the debt and capex done at the top of the cycle and revenues now at the bottom. That and most of this revenue is gained from lower value illmenite, then chop off another 10% for royalites.
Got burnt on this thinking there was value below $1 based on the assets and thinking the debt was manageable. Maybe it's not.
MDL Price at posting:
23.5¢ Sentiment: None Disclosure: Not Held
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