re: kaz - smx - next snx Yield does not matter for me when the stock is placed so low relative to book value. I'll take the capital gain....
By my calcs SMX should have free cash flow in the order of 3-4c per share this next F/Y. That will place it back at 45c no probs.
Maybe KAZ can do that too? - Can't say - deals are fine but usually cost a lot to establish in the first 12 months - if they are framed in a risk reward context then the benefits may not be realised for 2 more years...
There is a risk. no such risk with SMX - its cash in the door.
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