MD Alex Brown and his wife Kang Rong own over 70%, and never sell. They earned $600k last year and $1.7m the year b4, so the cost of living isnt a problem. They are getting on a bit, but what use is all that cash. They could have easily pushed through a sell up of assets and distribution of cash, but havnt.
It is a challenge and a matter of pride. Donald has been a problem to everyone who has owned it. If anyone can crack the processing metallurgy I get the feeling it is their technical team, but a hellishly slow process. Still many loose ends.
I like their track record in building a global, sophisticated manufacturing business. What would be great now is a large partner to fund and JV Donald - POSCO would do just nicely. Leave us to build the manufacturing plants.
Have to have the patience of a saint to hold shares here though.
ATR Price at posting:
$1.80 Sentiment: LT Buy Disclosure: Held
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