Do you think Poland will stick it out over the life of the contract? Or was it made to look larger than it really is? Shipping gravel from New Orleans to Poland can't produce that much profit, that they could under-bid all of the (poor 3rd world) Eastern European dirt diggers. It's surely a hell of a lot cheaper to bring it in 1000 miles by train from Bulgaria than it is 10,000 miles across the Atlantic on a sea barge.
Alonzo is all about revenues, smoke and mirrors. There are no profits there. PBLS is a stock selling machine. He has created another momo run that'll be sold into, just as all the rest were.
Watch the dollar. This contract will disappear fast if it rebounds anytime soon. A $1.3 billion dollar gravel contract indeed. The pit was valued at $300M at one point, and then doubled to $600M. Where is the other $700 million in gravel coming from? Did they resell this contract to a supplier in Europe or is the dirt coming from New Orleans? What is the profit margin or finder's fee? Are they telling the whole story here? I doubt it. They have a history of concealing the entire truth.
If PBLS makes more than a few hundred thousand dollars profit over the life of that Polish contract I'll be surprised. We'll know Monday what the share structure looks like, but with 2.5B authorized, I'm still thinking the share price will be sub-penny by the end of the year.
Anyhow, GLTY.
Quote 03-19-08
"Yes, we must, indeed, all hang together, or most assuredly we shall all hang separately." ~Benjamin Franklin to John Hancock
AI
