Worst case scenario MYE doesn't find any new contacts to replace Grosvenor . Unlikely especially with the big pipeline of tenders and the recent purchase of South32s US$1.3 billion coal mines by M Resources (our major shareholder) but If that did occur MYE just goes back to a steady earner rather than the kind of company that pays back more debt than its current it market cap in a year!
if worst case eventuates MYE will again have millions in superfluous equipment it can sell which it can sell to increase cash holdings.
disappointing with the Grosvenor incident but this looks oversold at current price
MYE Price at posting:
17.8¢ Sentiment: Hold Disclosure: Held
