I didnt and dont want any @85c because of the dilution that was coming.
That's one of the reasons why all my broker relationships are non discretionary and I trade not them. I would be really unhappy to find they put me into this stock. Low trade ability not a good track record over the past year. cannot see where the real growth will come from. Very old Soda Ash plant. The last entry point for me into PSH was between 66c and up to 74c than I got out in the nineties. My concern was the level of debt,stock and age of the soda ash plant.
I felt they needed 20m to solve the debt issues and I did the deed at 85c in my calcs and the dilution was too much. This is now 28m and a good percentage @70c and the dilution is very large. Better opportunities out there. I wouldn't be buying @ the $1 its trading now. At 70c I have a rethink but haven't got the time to think my way through at the moment.
Whilst I like monopolies this business is just too small and I cannot see where it will grow.
Very small amount held.
PSH Price at posting:
92.6¢ Sentiment: None Disclosure: Held
