- Algoma Steel recently completed its going-public process but its share price did not participate in the red-hot steel market.
- The underlying results are exceptionally strong as the company generated more than C$2/share in free cash flow in the most recent quarter.
- The cash is being hoarded on the balance sheet and this will help to complete the conversion to EAF while maintaining financial flexibility.
- I have a long position and wouldn't mind adding more, but I'm aware the steel price has come down and will likely continue to decrease.
For further details see:
Algoma Steel: Exceptional Steel Market Results In Record Performance