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I'd be curious where you think the bottom of the cycle is, galumay? To me it doesn't seem like you have to make wildly outrageous assumptions about the business to end up with a SP that is significantly lower from here.These two charts kind of tell me a lot about the whole industry, although they pertain to MND. The trend from 2003 on is pretty clear as is where MND was before the boom. Coming off a super-cycle like we have had it just seems to me like there will be one almighty hangover for this industry and despite how well managed MND they will feel it. I kind of think of mining services as flowers in the desert; when it rains they can look amazing, but it doesn't last.[ATTACH]60352[/ATTACH]
I'd be curious where you think the bottom of the cycle is, galumay? To me it doesn't seem like you have to make wildly outrageous assumptions about the business to end up with a SP that is significantly lower from here.
These two charts kind of tell me a lot about the whole industry, although they pertain to MND. The trend from 2003 on is pretty clear as is where MND was before the boom. Coming off a super-cycle like we have had it just seems to me like there will be one almighty hangover for this industry and despite how well managed MND they will feel it. I kind of think of mining services as flowers in the desert; when it rains they can look amazing, but it doesn't last.
[ATTACH]60352[/ATTACH]
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