Yip - been a large number of recent earnings downgrades in the mining services sector even as recently as earlier this week with BYL, EHL etc.
Now we're hearing that the LNG market in Australia is a dead-duck due to US Shale Gas glut. Sentiment is extremely poor.
I even re-read RQL's AR yesterday just to refamiliarize myself. $35m of FY13 revenue was contracted in May/ June. That is 42% of last years total revenue.
I do like the fact that RQL is expanding into Asia, expanding into 'bolt on' incremental sectors (e.g. remote power) and is involved in production orientated services vs. development.
I've heard every mine has water problems - either too little or too much.
Cheers John
RQL Price at posting:
30.0¢ Sentiment: None Disclosure: Held
