psh directors doing a great job

I think the PSH directors and management are doing a great job keeping the old factory going. They are fighting tough battles on many fronts.
The exchange rate makes imported Soda Ash cheaper and reduces the price they can get for their product. The rising cost of energy was bad enough but will now be compounded by the Carbon Tax which will raise the price of all their imputs. Any Carbon Tax relief will only partially compensate, this business was on a razors edge before that tax.
The old factory was built during WW2. It must be a maintenance nightmare but they have kept it going.
The limestone mine gets deeper and deeper.
However these are minor problems compared to its debt load. It has about $90,000,000 of debt to service and a market cap of about $11,000,000. If the banks stop putting money in there will be a problem.
It is a tribute to the company that the shareprice has stayed over 10c for so long with no prospect of a dividend and a crushing debt/market cap ratio.

bacci