Thoughts on Management, page-26

Fair comments, in my mind, this is really a turnaround play, and I find it very hard to judge a correct entry. Close enough is fine by me. If we agree that greenshoots are starting to appear in the mining and construction sector in WA, then inevitably a well managed mining services company with strong connections should also start to shake the cobwebs off its order book.

The annual report, (see a Directors's report, ) is very candid about the difficulties mining services have faced in recent years. Profitability was down a massive 86% last year. The director has signalled that they are reviewing expenses, even cutting back salaries etc. what I like is the companys financial resilience, it still has net assets of $16m, after being flogged for years by lacklustre demand in the marketplace for mining, infrastructure and building services.

Your very wise to hold off until the green shoots turn into little branches, but I'm a jump in sort of guy, which has its advantages and disadvantages. Let's wish ourselves goodluck anyway.