EBIT will be lower than there stated 10 - 12m, page-56

It is cheap, very cheap if there is no further downgrade of loss of contracts.
It is not cheap if another string of bad news arrives.

TTN is a very small cap mining service company which has won much respect on the good performance over the past few years.

But such a small boat in the rough sea is in very high risk if things turn out of control.
MAH, AAX, EHL and probably FGE, all are telling something.

It can be a big win at 52c, but it is too early to call it is screaming bargain, just not yet.