Good post greyhound. Here is my 2c.Yes, P/E is relatively high,...

Good post greyhound. Here is my 2c.

Yes, P/E is relatively high, but if you stick to stocks with low P/E you will miss out on the best winners during periods of strong earnings growth. The mining sector is hotting up in a big way and there aren't that many companies that can offer a full EPCM delivery of metallurgical processing plants. (AAX offers a different service to the companies you mentioned). Mining companies are starting to commit to projects as commodity prices approach pre GFC levels and banks are starting to lend again. I still believe Ausenco is respected in the industry and I think they will win their fair share of big projects. Ausenco have also been awarded a lot of feasibility work (which isn't announced), and this work will in many cases turn into EPCM award.

The recent volume suggests to me that some big players are now very interested in Ausenco. I think the chart looks great and the stock has the potential to move up quickly (although I am interested in the views of those like mitta and kevi who know a lot more about TA).

Maybe Ive got my blinkers on but for me Ausenco is a buy based on both FA and TA. If we are on the verge of mining boom II, AAX are well positioned to capitalise and there is the potential for very big returns for investors who enter at these levels.