bear came from?

bearish view came from the following IMO,

Anticipated Impairment of Asset Carrying Value
NRW has undertaken a preliminary review of asset carrying values including Goodwill and
Construction and Mining equipment owned and operated by the company. The Action Mining
Services business (AMS) now rebranded Action Equipment Services (AES) is continuing to
experience challenging market conditions which is likely to affect the value of its Goodwill. The
external equipment resale market has also experienced adverse movements in resale prices which
are unlikely to support some written down values particularly on older under utilised fleet, despite
depreciation policies adopted by the company representing in our view normal machine utilisation and
through-life-costs.
The review will be concluded prior to the announcement of the half year result. An impairment of circa
$50 million is anticipated.


( I am still holding shorts)