A nicely written piece, thx for passing it on. If only mgnmnt would ever work toward more full disclosure and getting back to being a publicly listed company trading on some sort of meaningful exchange but at least for now don't see that happening.
Not sure whom the seller has been leaving around the $1.1s area. Wonder if it is valuemicrocap guy from some time ago (think gilead also communicated with him). I haven't heard from him (valuemicro) in a really long time after taking a decent break myself. :)
I only have a smallish position but have always held some shares because of the valuation, ability to turn revenues into cash and doing it with just 2 mills in a small facility in Malaga with low annual CapEx.
Guess they never went thru with idea to buy up the used car place next door for expansion. Probably woulda been better than Indonesia from the sense of being close to 'home' for them and easier to operate even if further from the SE Asian markets.
Oh well, there results have certainly proven the merit of their wearplate thru tough times.
I think the BHP Billiton deal runs thru 2018? They probably could secure more work or extend what they have given their advantages in the field IMO.
Was a little surprised reading about potentially picking off Bradken assets if discounted, doesn't really fit the family's MO IMO but maybe he heard it from mngmnt.
Good luck.
I don't mind stealing bread from the mouths of decadence... But I can't feed on the powerless when my cup's already overfilled.
-Temple of the Dog
