Lakeside Steel is an oil and gas play however they are what many savvy investors look at are the ones making money regardless of the profitability of the companies trying to discover the stuff. They are in the oil and gas services industry. They are manufacturing pipe and mechanical tubing products. Currently they are based in Ontario but are looking at expanding south of the border. Setting up a sales office in Houston is one step in part of their strategy to expand in the oil and gas services industry in the US.

Here are two videos that you might find interesting and will give you a background into what their company is all about and give you a sense of the overall strategy they have to grow their company and returns to the shareholders.

The second video is a CEO clip from Lakeside Steel CEO Ron Bedard.

From a technical analysis perspective the company appears to have hit a double top which is traditionally seen as a reversal and indeed in this case they have come off the highs in the $0.60 range and are now trading at $0.44. There is considerable support at the $0.38 level, so that will be something to watch out for in the future as the price does continue downward.

Fundamentally speaking, if you’re a long term investor you will be eagerly anticipating the full production commencing this fall. For more information on the company visit their website.

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