Chart has short term potential, page-232

MRM is a good company, well managed, but the debt is high, likely too high.

At last years AGM the Chairman Tony Howarth stated the debt was a bit too high. In fairness that was in the context of doing something about it (reducing it).

I have had a big change in sentiment as I see the low rates in the industry and worst again the utilisation. The problem with highly geared companies is that the scales can tip quickly.

The only information I gleam is from competitors and I have no reason to believe MRM would be any different once it finally updates.

MRMs update in early November 15 dropped the share price about 50 percent into the 20s. That update really was not that bad...

The next update...I speculate can only be worse.

A write down of the boats for the reasons I stated over the weekend in my opinion must be a damn near certainty.