I argued a few weeks ago on t1ps.com that AIM listed solar wafer producer PV Crystalox (PVCS) should shut its operations at once and return all its cash to shareholders. The share price is 7.9p valuing PV at £32 million and the company (as at the half year) had net cash of 122 million Euro, £97 million. The company reported a steep first half loss. And things are only going to get worse.
The very well paid directors argue that they have taken remedial action; they operate in a long term growth industry, blah, blah, blah. The facts are rather differentRead the full article on ADVFN | Comments