I guess it depends on the project on offer. If it's cheap enough...

I guess it depends on the project on offer. If it's cheap enough now, fits well and doesn't use too much of our cash/cashflow I think now is the time. But yes a good idea not to run out of ammo before times improve.

Despit what some commentators are saying, I have a hunch commodity prices are bottoming, most likely have even bottomed, but I expect prolonged bouncing near bottoms, rather than dramatic recovery. It does appear like a multi-year recession is shaping up in Euromerica. I doubt China will stay down long though.

EL