At the AGM, Rod Smith spoke about gold testing and how it increases when either the economy turns or other metals go off the boil. The problem is that Nickel was 25% of testing in 08 and that's a huge shortfall to fill, a huge chunk of that 25% would have been Ravensthorpe so that number was probably not projected for 09.
In the short term, as in my earlier posts, their busy, damn busy and this hopefully will be reflected in the half yearly. But the greater issue is the full year and long term.
Good points: No real debt Biggest player in metallurgical testing. Very close relationship with the big miners, especially BHP. Branched off with the Marc business. Still have a good asset with PSI Geared up for uranium testing
Let's just hope they can reduce expenses and keep the work up especially from their blue chip clients.
If they don't, they will be another mining casualty.
P
AEC Price at posting:
$1.31 Sentiment: None Disclosure: Held
