Well one thing Glen and I both agree on is the potential for insto buying once production has commenced.
It's in ATI's interest to commence production ASAP for obvious reasons. Whether or not production start-up will be the trigger for insto to commence buying is yet to be seen, but I must say that they would first require some much needed numbers, rather than what the company has dished out to the market thus far. This is the area where I believe the board has failed us, and the #1 reason why potential investors are shying away.
It's all very well to boast that costs are anticipated to be into the lowest quartile but at the end of the day, that statement needs to be backed up by FACTS in the form of NUMBERS.
MM is a qualified Chartered Accountant and former CFO of FMG, so one could assume that he's a numbers man, yet he appears to be making every effort to avoid quoting figures in his presentations and market updates. That said, the numbers must stack up, otherwise why would he outlay $5.5m of his own money.
ATI Price at posting:
$1.19 Sentiment: Buy Disclosure: Held