research, page-4

Yes, it looks very cheap to me too.

My own dcf valuation comes out at $1.99. However, having said that, I guess if the commodity cycle falters and with debt financing a little harder to come by, the smelter contracts could thin out from here. Whyalla plant, AM2 and Min-Met labs were all pursued in contemplation of this eventuality though and, as back stop, should make this a better commodity investment than the other pickings left out there.