IMHO I would be surprised if it stopped there in the $25-30, could even go higher (comparison with Nucor and US Steel).
ASX stocks get a governance, risk and compliance decrement or detriment but that decrement is sometimes eliminated by takeover talk and earnings. The earnings for BSL should now expand 2-2.5x as ArcelorMittal and Nippon Steel take a bath in terms of contracts and in comparison to BSL.
IMHO FV could be about $175M AUD market cap compared to Nucor and US Steel. Then the BSL SP is about $33-35.
And there is nothing stopping Nucor and US Steel making a TO bid. ArcelorMittal and Nippon Steel might even be interested depending on what the "Security Agreement" allows for.
IMHO BSL could be the next De Beers (AngloAmerican) of the steel industry, a sort of goldilocks company with no real downside.
IMHO but pls DYODD There might be no real reason to ever sell IMHO excepting obvious reasons like a holder's pending cashflow crisis or things of that nature but why would u sell BSL?
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