Hi all,New to the IDL forum but an IDL-alumni from a number of...

Hi all,

New to the IDL forum but an IDL-alumni from a number of profitable trades in the past.

Clearly looks like good value at present at almost 52 week lows with no clear hiccups in view other than an inevitable slowing of the world economy in the next couple of years. I would still think mining services will be partially insulated from this as operating mines will still continue to operate and still need equipment irrespective of commodity prices (within reason).

My query is in relation the debt IDL is carrying - commsec have the debt to equity at 206% with a hefty chunk in this year's receivables, yet in their 2008 results presentation, IDL quote the figure as 53%. Whilst in this market I think even 53% is a little high, i was concerned by the subjectivity of the treatment of the figure - can anyone with a better understanding of this shed some light on the issue?

If I can't work this out, then I think it is better to steer clear....