V_H sounds like we have a few insights into the Deloitte work, I suspect they are the long term balance sheet advisors and also they did some additional work on the 30 June accounts, we saw the additional asset write down in June.
However I note that they are starting to sound more positive and they are consistent with comments overseas on a number of fronts including;
- Predictions that much of the cold stack fleet will not return to service. Should this be correct this does reduce the excess capacity.
- Some customer activity is visible on the front end.
Seems MRM are calling the bottom here.
I agree I can't imagine that it could continue to exist without re capping. I must admit I brought a few of them today (small holdings only) as I'd like to have a holding to participate in the re cap with.
MRM Price at posting:
18.5¢ Sentiment: Hold Disclosure: Held
