PINL:HYKUF - Post by User
Comment by
McRambuson Oct 16, 2018 12:55pm
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Post# 28811221
RE:RE:RE:insider buying
RE:RE:RE:insider buyingrationalexuberance wrote: Very surprised to see a 52 week low today. $1.00/share.
The company is forecasting a return to profitability the 2nd half of 2018. There were higher operating costs in the first 1/2 but the mining costs should drop $20/ton to $70/ton in the 2nd half. This will add to the bottom line but there will be higher depreciation (non-cash) expenses associated with a reversal of impairment. I think the key will be the cash flow statement next quarter.
Company is in the penatly box until management can prove they are not incompetent. They've forecasted profitability before and never followed through, just presented excuses.They also can not keep their costs under control. About 2 years ago the excuse was met coal under $100, now that they have coal above $200, steel prices at 10 year highs and demand soaring, the excuses are the ships are stuck at the port incurring demurrage charges. Enough!