Why would you want that in a fast growing capex heavy industry?
It means you are not seeking to maintain or grow market share, and just mature the assets you currently have.
Once initial capex wears off, sustaining capex appears to be less than 10% on extremely high margins. Once payback is achieved, the assets are still valuable and provide free cashflow.
The market is only so big however, and I see the currently pipeline of growth to be unsustainable past late 2020's so don't expect to see any statutory profit results in next few years as the additional capex depreciation from S3 rolls in.
NXT Price at posting:
$12.94 Sentiment: Buy Disclosure: Held
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