CGG mining costs low because the cost of fuel is next to nothing, they don't pay rediculously high wages (Indian operators) and they don't have to pay fringe benefits tax on staff benefits (ie. food and accommodation for staff). I could go on, but what it boils down to is that we have higher cost structures than other parts of the world. Additionally, any debt financing would be from Saudi. There aren't any US or European Banks (including the Swiss) that have any money left!
CGG Price at posting:
11.4¢ Sentiment: LT Buy Disclosure: Not Held
