Agreed. "The debt is being paid down faster than required and...

Agreed. "The debt is being paid down faster than required and that is good,"
Whilst expansion plans for more furnaces makes sense it shouldn't come prior to reducing the debt further. I'd prefer to see OMH start the silica/quartzite project come on line first. Its always important to secure supplies. ie. Cost wise and reliability. This project has dragged out due to lack of funds, I'm surprised that no mention of it in the Quarterly Report. This becoming more important as OM Sarawak now has 10 furnaces producing FeSi and 4 furnaces producing SiMn. The plan to produce Silicon metal should only be started when silica/quartzite production has started at Lawin and Lasah Malaysia.
The silica/quartzite mine is to be a 60:40 joint venture between OM Holdings and Menteri Besar Incorporated in Perak, West Malaysia. The mine, which is expected to extract 500,000 mt/year of silica rock, can produce about 300,000 mt/year of high-grade quartzite lump with a silicon dioxide content greater than 97%. This would cover most of OM Sarawak's requirements.
bene449, this is why I prefer OMH over JMS, JMS has no growth plans but OMH is constantly growing and using cash flow to fund the expansion as well as paying down debt at the same time. I'd rather this than issuing millions or billion more shares like so many companies do.
Dividends will come soon enough, reducing debt is more important at the moment. In another 6 to 12 months OMH will be in a great position and the share price will act accordingly. Already I think OMH is far superior to IGO, and the next financial report will prove it. IGO is a $2.7 billion company. In fact I sold almost all my IGO shares to put the funds into OMH. Whilst I haven't made much extra on that parcel of OMH, against that I didn't lose the $1.00 that IGO went down since I sold them, so I guess I'm in front.