James Hodgins Lakeside Steel LS-X STRONG BUY Jul 25, 2011

Really likes this company and its management. Expanding into the US with a new plant in Alabama with a significant amount of government financing. Economics on this plant are very attractive. Expects to see a material re-rating on the stock by the end of the year. Trades at only 3X EBITDA. Thinks there is a double here.

James Hodgins

Owned

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$0.440

Stock price when the opinion was issued

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Some legacy assets in Canada but the excitement is around the new steel plant in Alabama, which will be opened by year-end, which is on track and under budget. This is servicing the shale areas. Roughly 2.5X EBITDA.

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(A Top Pick Aug 30/11. Down 14.49%.)

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James Hodgins Lakeside Steel LS-X STRONG BUY Jul 25, 2011

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