baby and bathwater, page-9

Umm Croc. That's all wrong, you should read the agm address if you want to know about RQL.

What does RQL had FMG at 40cps mean?

Firstly, the sp would have nothing to do with it, that's the market. Secondly RQL purchased a dewatering business, DSA that had a contract with FMG not renewed. It was a substantial contract and a big part of DSA's business, but just meant RQL unknowingly overpaid for DSA. In the AGM address, they put it down to site management changes.
They also tell us that ebitda is up on last year, they are getting good work and DSA has integrated further with RQL and getting work from their customers.

And the share price is at historical lows.

I hope others are doing more research.