worst stock on asx, page-42

I think the SP is falling due to a number of factors, but to suggest and convey the impression that FMG is about to shut down it's Xmas Creek operations without any solid basis is dangerous and misleading.

Personally, I believe the market has lost a lot of faith in MAH ability to manage projects correctly in the Mining service sector, this is amplified by the fact that MAH cut it's construction arm loose to focus on the mining division.

If you're strategy is to become a top operator in the MS sector, it's a horrible look to have a contract ceased on the back of safety concerns months after announcing the foray into the prism of single sector servicing.

Is it going to effect MAH's ability to secure new work via tender?

Are there more safety concerns at other MAH sites?

How can this happen when the focus has been shifted solely to mining services.

Layer that with trepidation about the appetite of the Red dragon moving forward and the viability of projects affected by price shifts in the gold price and it's quite a toxic mix.

That said, it cannot be understated the level of fear which has been factored into the share price.

That's where you've got to be able to sort the wheat from the chaff.

To me, the failure at the CSA mine could potentially be attributed to the fact that management have narrowed their focus on the monster FMG project.

Given the size and scope of this contract, you can almost forgive management for dropping the ball at the CSA mine.

Almost.

That said, the failings with this contract to not magically wipe value from the XMAS creek project, it's the hearbeat of the company, and if MAH can tidy it's act up on the periphery, maintain it's service levels at FMG then potentially this moment in time represents value.