Ann: Earnings Guidance Update , page-37

here is the quick number 307m shares * 42c = 128m market cap...

it has $60mill cash at 31st December
book order 1.3b ...not hard to assume they get 5% NPAT from 1.3b revenue which is 65m..

105m all up...that is it doesn't get any more work...no revenue from its asset management which is ongoing and maybe temporary suspend but noway go light out....

is that a likely scenario, that no more work in mining services? work will be slow but I reckon you factor in margin they get less work ...and say they make 6c a year average going forward and say pay 3c dividend

I don't think that is an unreasonable assumption to make...
it is attractive....

Their work force is mobile and flexible that I mean they take people on as needed and let them go as required so they can manage cost...

I maybe wrong but I see the risk and reward too good even with the whole mining gloom....

Now let see if directors will lodge change in holding next few days and we know if it is cheap or not :-)