Yes, I agree that it is disappointing and a long road that they don't even expect to START paying down that massive debt for another year. Plus open briefing today suggested cap raising is still on the cards.
The additional EBITDA from this project will make them look cheap at current price - but only if we don't get diluted to ant droppings just to keep the banks comfortable, now that their risk tolerance has altered.
I think PSH is still an ok investment, but risk/return at this point now puts it well down my list of picks.
PSH Price at posting:
78.6¢ Sentiment: Hold Disclosure: Held
