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It doesn't look good based on what? Up until 2015, the company had quite a high profit rate
And profitability means nothing if you don't have positive cash flow. You could have 1 Googol USD in a resource, but it means nothing if it is not moving.
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The losses they took last year weren't a result of poor management of the company, they were a result of a failing steel industry that turned to cheaper foreign ores, rather than continuing to buy domestically.
As I said, company facing losses and cash flow issues in a failing industry. Doesn't look good.
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I doubt that they intend to convert over to a software development industry, but rather are simply parking their money in something profitable while they attempt to figure out what to do with the mining side of the company.
I doubt they're looking to convert too (there woulda been more splash in buying out other software dev if they were), but as I keep saying: they're not blowing 300M USD for something to sit idly by for 5+ years while trying to figure out what to do with their failing investments (they'll be getting to that ASAP). It would be daft to think otherwise.
"Revenge...is like a rolling stone, which, when a man hath forced up a hill, will return upon him with a greater violence, and break those bones whose sinews gave it motion."- Jeremy Taylor
23-Mar-2016 08:39:54