one thing that worries me is that most mines or companies that...

one thing that worries me is that most mines or companies that are growing fast have hired fleets of machines now in the current environment they are cutting back

Ie: a mine may have 3 pits they may cut back to 2 pits and there fore causes a reduction in machinery the first to go are the hire machines ,

I have been in the industry for a while and have a bit of an understanding , i just worry that some of these old machine 12 months ago where bought at very high values , now that value will have to be written down

I am just watching from the side lines at the moment
this is a very good thread to read

regards aussieman