ANG 0.00% 22.0¢ austin engineering limited

Bradken result- timberrrrrrrrr!!!!

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    Every ANG shareholder needs to read the Bradken interim result, just released this morning. It is an absolute shocker. The worst result that BKN has ever reported, imo. It has very worrying implications for ANG.

    For starters:
    - BKN suspended their dividend due to a blow-out in debt
    - Operating cashflow collapsed
    - BKN wrote down their ANG shareholding by $25.6m (ouch!)
    - BKN said "it was unable to form a view that there is a short to medium term recovery for mining capital products" (Uh oh!).

    I would be stunned if ANG's sp doesn't come under severe pressure today. The entire mining services sector is in ICU at the moment.
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