Just a few years after the mother of all hangovers following a major commodity boom party, the signs are emerging that the cycle is beginning to repeat itself.
Who would have thought, as recently as just a few months ago, if someone today put coal assets up for sale, that a bidding war would erupt for them?
And now the major miners are talking quietly about expansions, justifying them with the old chestnut of "concern about the future supply of raw materials".
And the juniors are able to raise capital, almost at will.
All proven and reliable leading indicators for the next capital investment upswing.
As a Monadelphous shareholder, I am very glad the company's management had the foresight to retain all of its good staff right through the lean times. Instead of making them redundant, only to have to scramble to hire them back two years later.
Because it feels increasingly like those employees are starting to earn their keep again, and are likely to do so for the next two or three years.
(I've seen this movie several times before)
MND Price at posting:
$14.97 Sentiment: Buy Disclosure: Held
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