RE: RE: RE: RE: RE: Annual Report You begin to be civilized person so I will be more gentle with you.
I am not here to bash the stock but just to outline you that your prediction are unrealistic. I do agree with you that the situation seem to be undercontrol now so 25-30cents might be the bottom.
Where I disagree with you is on the valuation. On their last PP presntation they give FCF $18MM for ST1&2 +$FCF 2MM for the bottom unit. so FCF $20MM overall for 2014.
If you look at RE stocks in the world they are trading at between 3-4 times FCF depends on the market condition.
so it gives us a value of $60 to $80 million for SJT. On that you can add $10-$20MM for their other assets and you have a total valuation for 2014 of around $80-100 millions. Taking this valuation means that the warrants will not be exerciced so we can take 285 million shares outstanding
so it give a value of between 28 to 33 cents per share for 2014.
I think the stock is valued like its peers but doesn't have potential of growth over the next 1.5-2 years. Then you might see 10 to 20% growth depend on how they develop their other assets.
Good luck in your investment
Best
Julien