Fidosnos,For me it's about trying match current share price with...

Fidosnos,

For me it's about trying match current share price with future profit levels.

Yes there is a severe downturn, but the downturn started in 2007, rebounded and then started cycling down again in 2011. It pays to pay attention to level of investment based on what the market is doing and not to government or CEO forecasts (the money comes from the market after all).

When I said it may be time to look at the mine services companies, I should've stipulated another condition for investment consideration ought to be "has the company transferred part of their operations overseas?" The mines in Australia on a global scale aren't competitive. Base metals... forget. Gold... forget except for a mines near Kalg. Coal... has turned from leader to marginal, thanks to successive govts bleeding the industry so they can hike the wages of the public service :/. Iron ore... top of the line stuff in WA, forget about the few trying for deposits in NT, SA, NSW (those are garbage), Africa is years away, Canada is poor grade, India is poor/average but need it for themselves, Iran is poor/average, Brazilian mines are in rapid grade deterioration, Chinese mines are as crap as can be but some of 'em have the advantage of being next door to the mills.

As usual, I probably flew off on a tangent. We'll probably find that spending will decrease till about 2018 and then realise, oh wait we're short on commodities again and hence will have to ramp up again.