I guess timing isn't quite so important if you're confident in undervaluation/fundamentals. That $1.28 will probably look like a good buy today.
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My first lot was around 89c mark at beginning of the year, top up at 1.20 when they provided trading update in July and watched it drift to as low as 1.04 in following months. Almost tempted to bail out but held my nerve as industry tailwinds are huge for them and will continue to be for a while a yet. Like others $2 by FY22 end can easily be achieved, perhaps even more.
Another thought to consider. There has been an awful lot of communication from steel and tube in the last couple of months. I’m thinking that they realise that with the share price being so low that they are conscious that they are a target for a takeover, as current price still not much more than net asset backing.
Have a look at the NTA of Vulcan and the premium that the share price is at compared to STU. Steel and Tube also has $25m in cash at ye21. What’s it now…
rectified my error just picked up a well priced parcel
I believe the frequency of positive communications relates to directors concerns that a takeover is in the wings.
Bought some more today - still a bargain I think
Got some more and bought some FBU as well...
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