RE:New Value Investors Club WriteupSolid writeup that captures the major factors making Melcor a generational table-pounding buy. Few quibbles with the content, but the selfish part of me wishes it had not been published as I am still in accumulation mode.
I never considered Melcor a buyout candidate. I always assumed the Melcor family would keep their grip on it for prestige purposes, even though the full company could probably be unloaded in a heartbeat for well over $30 per share. The family could always carry on their legacy by securing a guarantee that the Melcor name would remain on the marquees and building plaques following a sale.
IMO the more important new development is the muscular exercise of the NCIB over the past year. If continued for a few more years, the company will take out all the public investors (except for me), and book value per share could easily reach $100.