RE:9-10%RusticHit wrote: Market will take this down to 9-10%yield they want more yield fo risk 6-7% yields are very safe like banks even Gic giving 5%
Really? If the market were to push the price down to a 10% yield, then the typical wankers would come out of the woodwork, stating that the dividend was too high and that another cut would be in order, so I doubt your thesis.
More likely is that this trades in a range until further clarity on asset sales can be obtained, as well as to see if the company can execute on its stated guidance.
I'd been watching this, waiting for the update, and have taken a small position in the $9.30 range now that short term clarity on the dividend, debt and near-term cashflow has been provided. I think the selling has been a bit overdone.
GLTA