I am thinking the under quoting has caught them out further with closer analysis of various contracts in the mining division resulting in re-cut forecasts that are showing and overall decline in profitability.
Hence some write-offs coming and IMO a re-cut forecast/guidance number that will take us into the new year on life support but not terminal.
Lets not loose perspective here - they have a good cash balance and borrowing headroom and lots of hungry financiers looking for deals - so this show is on a solid footing when it comes to cash to keep the show afloat until diligent management and leadership cleans it all up and set the course for an improved future.
WDS Price at posting:
29.0¢ Sentiment: Hold Disclosure: Held
