rights issue, page-8

Dincher,

I believe you and me are both on FKP, market response to the Capital raising of AAX and FKP are of such a contrast! FKP nearly doubled the issue price 1.30, and AAX half it!...anyway!

My understanding of this, is the mining industry now has a bleak outlook, people punish downgraders and put them all in one category without thinking of differentiation.

At the end of the day, Boart, Forge and Ausenco are treated in the same way although their business pattern and specialization are different.

I don't have any information than you do about Ausenco regarding to any potential risk of boat-is-sinking, but would think they can cruise out of this cycle with works on hand and 8% of debt.
Having said that things can get much worse in the mining industry in the near future, but that will be another story (the whole fleet will sink not only a boat..)

As to the share price, I don't think any one can have an accurate valuation on the figures... do you think AAX is trading at 30 cents or 1.07 dollar will surprise you?