Algoma Central Corp T.ALC

Alternate Symbol(s): AGMJF

Industrials

Algoma Central Corporation is a Canada-based marine shipping company. The Company owns and operates a fleet of dry and liquid bulk carriers’, serving markets throughout the Great Lakes St. Lawrence Seaway and internationally. Its Domestic Dry-Bulk segment includes the Company’s 18 Canadian dry-bulk carriers. This segment serves industrial sectors, including iron and steel producers, aggregate producers, cement and building material producers, salt producers and agricultural product distributors. The Product Tankers segment fleet consist of seven product tankers employed in Canadian flag service and one international tanker operating in Canada. Its Ocean Self-Unloaders segment consists of eight ocean-going self-unloading vessels and a 25% interest in a ninth selfunloader. Its Global Short Sea Shipping segment, which consists of the Company's NovaAlgoma joint ventures, focuses on niche marine transportation markets featuring specialized equipment or services.

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Algoma Central Corp > Stephen Takacsy - BNN - DON'T BUY

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Comment by Northforce13on Jul 15, 2024 11:55pm

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Post# 36134086

RE:RE:RE:Stephen Takacsy - BNN - DON'T BUY

They added 65 mil of high cost short term debt in Q1

They damaged BV/Share by issuing shares at 14.10

Selling shares at 14.10 when book value is > 20 is not good
1) obviously diminishes BV/share.
2) Indicates either the company is quite tight for cash since it has opted to do this or/and management places little value on BV/share destruction. Some median combination of both.

Were it not for these concerns I would be buying. The two concerns put it in the "hmmm" category.

GLTA

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Mullen Group's Robust Case for Value, Part 1: Less-than-Truckload