will RCR or MND buy SXE?, page-9

These guys also spent a considerable amount gold plating their IT systems not too long ago, this should allow them to forecast and operate on tight margins better than most.

I daresay Tomasi understand's that SXE's intrinsic value is far greater than what the market is offering today, but this is not to say that it will reach its previous highs of the glory days...todays environment has the big miners obviously more focussed on cost, this translates down to the service providers (i.e. SXE) who probably have to adjust to a new normal of reduced margins (~15% GP), as opposed to the free and easy 20-25% GP margins they all enjoyed through the boom.

Great to see expedient cost cutting from the board, which shows their alignment with us shareholders. I have confidence that SXE will manage itself nicely into this new environment with a lower OPEX structure (which should help support the bottom line), maintained cash balance, prudent management and hopefully a sustainable business. This is not to say we are out of the woods yet, as there still may be some short-term bumps along the way with contracts wins/losses etc.

Only questions that remain for me is will they maintain the dividend for this year, and when will a new CEO be appointed.

VS