You could be right. I'm just thinking worst case scenario: --$3 billion in revenue. --Plant closed and doesn't reopen (-$700 million, wild guess since there's no info on how much revenue the plant contributes) --$2.3 billion revenue company, cash flow positive. --$50 million market cap. --most debt isn't due until 2018. --environmental clean-up cost? --what if plant re-opens? It's still a good speculative play, IMO.