Mining services section is almost dead. BLY, AAX, FGE, FWD,...

Mining services section is almost dead. BLY, AAX, FGE, FWD, MAH....

BLY has over US$740m debt, market cap is only $120m, the company might have going concern, although last presentation looks good. But don't forget they did get worse than GFC's, broke the bank covenant, and had to raise US$300m notes to renegotiate the bank covenant.
Debt is 6 time more than their market cap.

Remove from the index, sp might drop further. Not a good risk/ return player, IMO.

I reckon Goldies are close to have hit the bottom.