RE: RE: not really happy It appears that you are not alone in your unhappyness. It always amazes me why an investor, who should have known that Q1 would be pretty weak, would wait until now to sell. Seems quite costly to me. Especially to sell at these prices.
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Whatever one's mind wants to imagine is happening at Landqart and even Thurso, one cannot help but observe that Dresden earned $9.2M EBITDA in Q1. Now if one subtacts the $1.2M they spent on cap ex and multiplies the remainder by 4 quarters, one gets $32Million pre-tax or about $23Million after tax. So even if Fortress decided to shut down Landqart and Fortress Specialty Cellulose, they would earn $1.60 EPS from Dresden alone and from all reports, it is growing quite nicely. That company, stand alone, would garner the price FTP is selling at today, when its growth rate is factored into the equation.
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Anyway, FTP will keep Thurso, since it would be very difficult to not make a boatload of money from the operation. Landqart, does need to be dealt with in some form or other and once it is done (and it will be done. I am sure it is annoying Chad more then it is annoying me) the financial picture improves significantly. As I said before, all it takes for the most part, is a new padlock.