RE:SIB: 41,025,641 ASTL Shares @ USD 9.75 !!!At times, I just don't understand today's investors.
Algoma (since going public again):
- has reported several excellent quarters
- based on Stelco's recent guidance, Algoma should report a good second Q.
- they are well positioned for the future as their move to EAF will reduce costs & increase production.
- current eps is $6.71 with price/earnings now at 1.7.
- The issuer bid will reduce their share count by over 40 million .. which will significantly benefit the remaining shareholders.
- the issuer bid set price is $9.75 US or approx, $12.48 Cdn.
- one would think that current prices ($9.14 US & $11.73 Cdn) would be extremely appealing.