shouldnt they be investing in new growth opportunities? the company's 'core operations' in Australia are in absolute crisis!! Fundamentally this is a moronic move that is just increasing the ongoing share holder destruction!! If Bld were to re-enter the debt markets they would be looking at a 10% interest rate.
As a matter of urgency Bld should be acquiring US assets with good resilient cashflow attributes. Flyash assets in the US would an excellent long term shareholder wealth creation move. The US economy is far more resilient than the Australian economy which is being dragged down by the collapsing Chinese economy. Fly ash is very resilient to economic down turns (admittedly provides little upside to economic improvements, but this is unlikely to be an issue for more years.
BLD Price at posting:
$2.57 Sentiment: None Disclosure: Held
