giddy up !, page-209

From The Australian:

"Spending slides led by mining slowdown" "BUSINESS investment has fallen for the second quarter in a row, weighed down by big falls in mining investment." "New private capital expenditure fell by 4.2 per cent in the March quarter following a 4.5 per cent fall in the last months of 2013, official figures" "Investment in the mining sector was down 8.7 per cent in the first three months of the year, after a 5 per cent fall in the December quarter."

From the Mining Weekly:

"Market conditions not supportive to new projects – Australia’s BREE" "PERTH (miningweekly.com) – Investment in Australia’s resources sector was entering a downturn as Australia shifted into the production phase of the commodity investment cycle, the Bureau of Resources and Energy Economics (BREE) reported this week." "Exploration expenditure on mineral deposits was also down substantially in 2013, and at A$2.5-billion was 31% lower than in 2012."

DO NOT BELIEVE THAT THIS IS IT WITH BLY'S SP - WORSE IS TO COME.

....BLY is far from a bend in the road to recovery. IT is a dead man walking!!!