OTCPK:ICPVF - Post by User
Comment by
graffiti99on Mar 10, 2020 1:17pm
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Post# 30789203
RE:Time to breathe
RE:Time to breatheSo true, it is a great company. Ive held for a while but these prices are......unbelievable. In my opinion, what a bargain. All the factors that are applying downward pressure are temporary and transient: coronavirus, Saudi vs. Russia, even the anti-pipeline activists logic falls in on itself. First nations...Wetsueten people want pipelines, it's only some (and not all) of hereditary chiefs that have expressed negativity. Canada's a bit slow, but everything will blow over and IPL will be sitting pretty. with a brand new polypropylene hydrogenation plant pumping out products and generating great margins. What a staple and achor for any sensible portfolio.
On questions of execution, will there be delays on plant build? Maybe, but it's half built, 66% de-risked, they're great operators and project managers. Will some producers go belly up? Maybe, but Saudi and Russia can't keep prices down for long - they're the ones that need high prices to make their account deficits work. It's totally irrational what they're doing. At a 12% dividend for IPL, 1.2 x book, PE of 11, I'm happy to buy, put the share certificates in my filing cabinet and check back in a couple of years.