boart longyears kipp refutes miners pessimism, page-2

Thanks for that link Liam....it is a very interesting read. I think Craig Kipp is on the money refuting pessimism expressed by RIO and BHP. He stated the facts which are drilling services have not slowed down. Whether China grows at 7%, 7.5% or 8% is immaterial as they are in great shape and can look after themselves. Demand for resources will continue from China.

He skirted around the suggestion RIO & BHP are feeding the press negative sentiment for political reasons i.e. the mining tax. Imo this is all part of the big boys public campaign against the tax. If people would just realise this is a tax only on "super profits". Doing business in a political stable, safe country like Australia, in close proximity to China and India will continue imo to be a huge drawcard for companies to invest in Aussie mining.

So what do we have here......BLY is the worlds largest drilling services provider with projected growth of 14%! There is a world shortage for drilling services, rigs etc. How often do you read drilling cannot commence sometimes for many weeks until mining companies can secure a rig. Unfortunately the market is mostly driven by emotion and fear.

Looking forward to the day the market has a bex and a good lie down and returns letting logic rule the trading.

Cheers,
P.