I am holding my AYSI and have actually been buying here in the low $0.40's. Personally, I feel there are lots of reasons for one to hold at this level. The company's financial performance is still strong. The mining industry in Western Australia is still expanding. I read an article a few days ago about Fortescue, one of AYSI's largest customers and a preferred supplier of wear plate, will be expanding their output from a current level of 40 million tons to 155 million tons by 2014 using internal cash flow. If they get external financing, those plans could move up quicker. They also mention a medium term goal of reaching 355 million tons of annual capacity!
That is just Fortescue. I'm sure BHP and Rio Tinto have similar plans. At $0.45 per share, you're getting a company that has shown it has the potential to make $.08 a quarter in a growing industry. I think we could reasonably expect them to make $0.12 - $0.15 per share next fiscal year.
In terms of the liquidity picture, I concede that it may not be as liquid as it was on the OTCBB, but it is defnintely no reason for the stock to go down 50% or more. They will still report their financials. It's not like they were a PR machine before, so the move to the pinks does NOT change the value picture here.
Good luck to you...
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