Alloy Steel Inc. (fka AYSI)

[Swick984]

The company posted amended 3/31 financials that included footnotes, which had the same level of detail as the annual financials. While there was nothing significant to note, I did see that finished goods inventory levels were higher than usual, which seems to support my earlier theory that Q2 results were dampened due to lower shipments ahead of the hurricane that hit the Western Australia iron ore complex near the end of the quarter. I think it bodes well for the next earnings report, which will hopefully be a bit more timely in a few weeks. The report should also be clean, with no remaining impacts related to the sale of Indonesia and a continued build of cash.

The news out of the iron ore space in Western Australia has been very positive with construction of new mines under way for several of the large miners.