This company is making solid profits and will continue to do so...

This company is making solid profits and will continue to do so even while the business cycle stays depressed,
When the good times eventually come back Perilya will be making a killing,
There is no rip off going on here everyone has lost money especially those who took up the capital raising (predominantly major shareholder) so buying at these prices means getting in cheaper than the price they expect to get a return on (which they will and more IMO) and theoritically a huge return.
If they are short of cash the major shareholder will help them out or they can get a loan its no drama,
They will invest it well, easily make interest payments then when the cycle turns around they will be paying whopper dividends.
Im still a bull on this stock, have continued to average down despite the pain and Ive got no regrets in doing this.
Annual report comes out soon so hopefully will provide some clarity for what the short term prospects are. I'm expecting a big upside surprise but thats just my opinion.
Central banks also about to start easing again, all the exstra money in the system will eventually have to get inflated out and this stock is as good as a hedge gets at these prices.