Not all mining service companies are the same.
NWH has been marked down all year based on speculators predicting substantial downgrades. Well, todays announcement shows that is not happening.
RIO, BHP, Hancock, etc are producing iron ore at less than $50 a tonne. The current price is $110 a tonne. Profit margin is still huge. These major companies will always need someone reliable to dig it out of the ground.
I would also suggest that NWH would currently be close to a net cash position.
Ann: Market Guidance , page-13
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$3.89 |
Change
-0.010(0.26%) |
Mkt cap ! $1.787B | |||
| Open | High | Low | Value | Volume |
| $3.92 | $3.94 | $3.88 | $910.5K | 233.1K |
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| No. | Vol. | Price($) |
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| 28 | 17266 | $3.88 |
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| Price($) | Vol. | No. |
|---|---|---|
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