OTCPK:STZHF - Post by User
Post by
extremeriskon Aug 10, 2019 1:55pm
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Post# 30014698
3000 acres of land at $38k an acre is a steal.
3000 acres of land at $38k an acre is a steal.They paid 114 million for 3000 acres. That works out to $38,000 an acre.
While not a real estate guy I would venture to guess that the Hamilton land right by the water is significantly undervalued at $38,000 an acre. This is a diamond in the rough that has not been monitized yet.
Look at all the condos sprouting by the lake in Toronto. Hamilton is right next door on the same lake.
We have not heard yet how this is going but they really did a sweat heart deal in negotiating this land transaction. Bedrock and Kestenbaum are sharks. They negotiated a fantastic deal and were able to eliminate any future environmental concerns from Ontario governemnet which was the main stumbling block in previous deals.
Wish I bought cheaper but given low volumes last few days not that concerned here. Expect steel business will be in line with all the other steels (soft) however the value of this land is a huge prize for this company
Stays low I would buy ahead of earnings here.