Thanks Dan. Eldpa is not something that needs immediate...

Thanks Dan. Eldpa is not something that needs immediate resolution to my mind - it is cost free financing as long as the company is not paying dividends. So the longer it is spun out the better for shareholders. Pa holders won't like it, but I believe mgmt will continue to act in the best interests of shareholders with regards to eldpa.

I believe the business has turned a corner. Since present management took over, much of the free cash flow has gone into sorting out the historical blunders - restructuring, sorting out forestry liabilities, paying off debt etc. Soon this will be over and the business will be generating significant free cash flows - these cash flows will be much higher than reported profits.

While there is some scope for reinvestment of earnings, I believe that the Current CEO will return capital to shareholders. He is very focused on returns on invested capital and there probably aren't enough opportunities to reinvest everything in the industry, especially so since he is focused on making the business much less capital intensive.

I don't know exactly how the eldpa will be resolved - many factors at play including tax etc. however the important point is that in time it is very likely that it will be resolved - and when it becomes clear to the market that this will happen, I expect the share price will rise further.