Been assessing the company: The Oil sands fire hurt...

Been assessing the company:

The Oil sands fire hurt business....that is gone......that alone should see 10c on the cards.

Increasing asset utilisation, cost and debt reduction all continuing from last 2 results....trend is turning...

Overhead cost reductions are very good and more to come.....

This once had a market cap of over $600 million so the debt level was high but not compared to equity.

The sell down of the equity was aggressive so the buyback should be equally aggressive.

The debt ratios are now manageable.

Revenues rising (no more Canadian oil sand fires expected -Act of God) and new customer contracts
Costs reducing fast
20%+ headcount reductions.
Debt reducing fast.
Asset utilsation increasing.....

That is a formula for turnaround success.

If they get debt back to $250-300m and the story gets out this will back at 30c - 50c in no time.....and an equity raising and continued performance will reduce debt back to $150m and this stock is a $1.00 again and in great shape.

This is going to run hard is my read...just topped up at 6.7c.

DYOR.

GG