I’m long ASTL warrants for this reason. Unfortunately, they need another SIB to be the catalyst for value change.
Management is very conservative and they will only spend cash on buybacks over and above the fully loaded EAF project cost. By my math that means soonest SIB will be announced is April or possibly July after Q1 in the new fiscal year. I would have preferred they would be more aggressive and pre spend a bit knowing they have $100-200M in cash flow coming in for the next 6 months.
Expect to see a big draw on cash due to capex from this quarter with a delayed refresh from govt financing and reimbursements.
"Minor" typo from you
There is basically short- or mid-term bankruptcy risk here no matter how bad the market could be.
its missing a NO
Thanks. Fixed it.
I’m long ASTL warrants for this reason. Unfortunately, they need another SIB to be the catalyst for value change.
Management is very conservative and they will only spend cash on buybacks over and above the fully loaded EAF project cost. By my math that means soonest SIB will be announced is April or possibly July after Q1 in the new fiscal year. I would have preferred they would be more aggressive and pre spend a bit knowing they have $100-200M in cash flow coming in for the next 6 months.
Expect to see a big draw on cash due to capex from this quarter with a delayed refresh from govt financing and reimbursements.