Debt is up quite a bit but I think you would expect that from a company that is expanding in anticipation of a sustained mining boom.
There was obviously something in those results that significantly underperformend what the market was expecting... but I honestly can't work out what it was. The whole pattern of trading leading up to the results, building up from around $1 to $1.25 the day before the results suggests the market was expecting a surprise to the upside
The China thing is an interesting point I hadn't though of before. They do make a national sport out of ripping off proprietary tech through reverse engineering.
I bought a few more today in the end to average down but that's as far as I'm going. I will sit on the sidelines and watch what happens for a while, because I personally think it was a decent result
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