sdm v mye, page-7

SDM have repeatedly said their cash position is maintained to look at acquisitions of growth assets in the resource services sector.

MDM looked like a decent company but probably over-priced for the deal (ROI was around 6%) and obviously the two companies couldn't get settled on final terms of the deal.

I think SDM will be looking to keep cash until some real bargains in the mining services sector become 'up for sale'.