Boys, I think we've been Joooliad! The timing of the tax was clearly a surprise but unless BSL, OST and the other s can negotiate around this terrible tax we are in trouble.
Thankfully, OST has started heading offshore and BSL has ops in Asia and the US. I feel for the blokes in Whyalla and Newcastle as if this goes ahead without serious cashbacks to manufacturers then they are finished in Oz. OST will be an iron ore producer and BSL will go offshore 100%.
Either way, management should come up with a hard plan of action and let the market/community know. Until I see the plan I am reticent to hold. I even sold down some OST.
PS I hold OST and not BSL but post here as this is the seudo steel blog. Also, I trade BSL all the time.
BSL Price at posting:
$1.80 Sentiment: Sell Disclosure: Not Held
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