Hey chiggles,
'Not much upside' was working off chainsaws numbers and assuming that their market in the mining sector wouldn't pick up till 2018.. And with chainsaws numbers they are going to be in breach of their debt covenant.. As Nic Greiner said at the meeting, 'no good company should breach their covenant'
Using your numbers there is a whole lot of upside, I guess till the actual figures come out we won't know..
I am optomistic at the moment, only cause with the sp where it is even in the current mining environment, it can't go much lower..
A multinational company with parts of its operation working at capacity, paying down debt ready for the next cycle.. It's gotta be worth more..
Although any agm highlights that start with the lost time injury numbers as their major highlight, instead of profit forecasts or long term outlook numbers does make you wonder..
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Hey chiggles, 'Not much upside' was working off chainsaws...
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