Thought you would enjoy that !
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Shame for young guys coming in for sure, but we moved away from that model in 1984 as we approached bankruptcy and a 20% currency devaluation.
I'm 23 years out from retirement age but those approaching aren't really getting a windfall, just a years pay really.
If we want jobs for all then the easy answer is to ban all use of earth moving equipment effective tomorrow morning and at the same time set up a massive shovel and barrow factory in every town.
True RTM, Sailor get fixated with the share price that's going up again ,if it keeps going up you could retire early also !
I did think I'd made it pretty clear that I don't fixate on stock prices but rather what the business is doing.
With this one it is only of interest to me in the way a train wreck would be as the only shares I own are those the other poor holders have been forced to give to me through dilution.
As soon as I able to I will be selling them, hopefully to you.
Sailor Rob will join ACC who have been the only real seller since about 44cents Early Christmas presents to the perceptive buyers
Sold the last of my holdings at $2.93 and $2.75.
I can't sell the ones you guys gave me yet but will be as soon as I can.
With combined debt, current equity value (market) and new debt, there will be a combined 750 million of capital that needs feeding.
I've asked many times for anyone to explain to me how they will generate the 75 million EBIT (real profit not pretend profits like for the last 15 years where tiny depreciation schedules have shown profits but obviously that was all smoke and mirrors) in order to feed this invested capital.
Nobody owes me any explanation but you owe it to yourselves.
In mid July I asked;
How about a detailed analysis of the documents regarding the terminal conversion and subsequent operation and then an informed investment hypothesis clearly explaining how as an equity owner you will see cash generated and distributed to you as well as highlighting all risks, specifically critiquing the figures presented, paying particular attention to CAPEX and the fact that no agreements have actually even been reached...
I doubt I will see this as it's easier to just jump on for the ride as it looks like it's not going to stop - just like it did as it approached $4...
Obviously this must be after the debt holders are satisfied.
The truth is guys, nobody in the world can answer this question... Nobody could even come up with a wild guess as to how this could be achieved.
Come on, someone please just shut me up and show me how I'm wrong.
In the meantime don't be suckers, the share price can do anything in the short or medium term. This is what speculation is.
The share price could go to $2, hell lets say back to $4... Doesn't change a single thing I've said, except that it would be even more impossible (if there is such thing) to justify returns on that EV.