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A solid track record that goes back to 2007? That doesn't really give you a good understanding of what happens to this business through the cycle. Check out some of the discussion in the FWD thread to see how well these mining services companies have done on an historical basis for the last few years.Here's what I said last August when NPM fell from 12% to 9%That has now played out and margins are down at 6.4%. The same is happening across the industry, so I really don't see how FGE can go back to its boom time returns.The stratospheric growth in revenue, while maintaining big margins was never going to be sustainable.
A solid track record that goes back to 2007? That doesn't really give you a good understanding of what happens to this business through the cycle. Check out some of the discussion in the FWD thread to see how well these mining services companies have done on an historical basis for the last few years.
Here's what I said last August when NPM fell from 12% to 9%
That has now played out and margins are down at 6.4%. The same is happening across the industry, so I really don't see how FGE can go back to its boom time returns.
The stratospheric growth in revenue, while maintaining big margins was never going to be sustainable.
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