Post by RetiredSteelManon Oct 17, 2024 6:46pm
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Post# 36270783
Tree Island Steel Plant
Tree Island Steel PlantI believe that TIS owns the Richmond plant property and that it is worth many times more than the book value indicated in their annual report which is stated at the original cost of the land & buildings. This lowers the actual value of the assets and consequently the book value of the shares.
When TIS sold their California plant, they paid a one time dividend of $5.00 per share to distribute the profits too shareholders.
A substantial profit is possible if the BC property is sold. I believe that this will eventually happen to this property.
Be patient and hang onto your shares or sell at a good price. Someone has been slowly buying shares to increase their holdings. A low takeover bid was made a few years ago and withdrawn. I would hope a fairer bid will happen in the future.