RE:RE:RE:We deserve a little bit more respect then this price!!!I don't mind an impairment charge...it will mean more profit down the road, and it has no impact on cash flow (the important number!).....
As for the divvie, this is what TD wrote in 2014:
Steven Green, an analyst with TD Securities, is the other participant. Green, the only analyst covering the fund, wrote about “solid operating results [being] overshadowed by the long term zinc supply outlook.”
As for the outlook, Green said “we have been, and continue to be, of the view that the current $0.50 payout remains safe and the plant should retain value after 2017 given its position on tidewater and access to very inexpensive hydroelectricity.” And while Green didn’t change his recommendation, he altered his target to $6 from $7.
So they were wrong then, and they could well be wrong again. It would be great if GC starts up more zinc mining, but you can bet they will continue to play hardball with the smelter. GC do not get pushed around easily. Strange that they offered 3.90 per share a while back - they could get it for under 3 now I bet, so why not make an offer? Maybe they want to settle the union thing first, or force a strike and then make an offer. You'd think, with the success the parent is having, that they would want to put a little cash on the smelter and keep the divvie for themselves. The low share price puzzles me - is it fear? Investors are odd animals, skittish and nervous. I expect a good return on current prices, even if the divvie is cut next year...