what a pile of schist, page-15

Joewolf,
I think we can usefully mull over a few things before the results come out. These are matters of opinion unrelated to that report but will put that report in context when it comes.

1) How much gearing can PSH prudently bear compared to its market cap?
2) How much should a plant like this be spending on maintenance?

Those numbers will enable sensible conclusions to be drawn from the results when they come out.
The results won't make projections out more than a year but potential investors must do so to consider if and when a dividend would be paid.
I have been upfront with my opinions on these ratios. I think its reasonable and useful to ask the opinions of others.

bacci