Dear Incompetent Management, page-6

According to the presentation at the AGM, they harped on about revenue stream being very consistent. (As per page 9 of the AGM presentation.. You can see the extra in come streams that came in during the boom.. But the base load has always been very consistent..

Bradken have over extended with debt, but again mentioned at the AGM they were looking to sell off more assets to reduce debt burden..

You are very good with your analysis, but there are many unknowns still to take into account..

Reduced debt due to asset sales..

Operating reduction costs, due to cost reduction plan version 2016..

I think it will be a very interesting quarterly report...

And, as mentioned by another poster there is the lightspeed factor, they are too involved not to be a part of the solution...

GLTAH

All in my opinion.