Hi Pioupiou,
Sensible comments - A few thoughts FWIW: maybe margins based on under-utilised plant are probably not any better than normal? they're probably negotiated under pressure and so they're tight (everyone has under-utilised equipment and is desperate for work).
Expanding Capex - depreciation covers steady state capex (you'd hope) but true that expansion requires extra cost and also cashflow in a leading way.
Contrary thought: margins typically expand when work expands but it's very lagged. So more gilt to come?
Funny thought: fundamental analysis creating a TA resistance/support point at a round number - $2!
Thanks,
pb
Hi Pioupiou, Sensible comments - A few thoughts FWIW: maybe...
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