I am thinking the under quoting has caught them out further with...

I am thinking the under quoting has caught them out further with closer analysis of various contracts in the mining division resulting in re-cut forecasts that are showing and overall decline in profitability.

Hence some write-offs coming and IMO a re-cut forecast/guidance number that will take us into the new year on life support but not terminal.

Lets not loose perspective here - they have a good cash balance and borrowing headroom and lots of hungry financiers looking for deals - so this show is on a solid footing when it comes to cash to keep the show afloat until diligent management and leadership cleans it all up and set the course for an improved future.