RE:RE:RE:Is this an anchor?The board should be mindful of the possibility that oil drops below $70 then $65 and it really starts to look like Bri-Chem share price deterioration will be a drag on Titan results quarter after quarter.
If they start to develop a conviction that that's where we're going then one option worth considering would be to spin the entire Bri-Chem holding off to Titan shareholders. Then shareholders could all decide for themselves what they want to do with their Bri-Chem shares.
Or Titan could just sell the holding. Not sure how much interest there would be in a falling-oil-price environment.
Either way, it would get the Bri-Chem holding off the Titan balance sheet. More important, it would get the Bri-Chem holding off the Titan income statement.
Not suggesting we're there yet. But it could make sense at some point.