Noted this coming up in The Call with Claude and Luke on Friday.
Trading at cash backing and profitable. In mining services though and doing some large projects ($175M one with FMG) so can imagine $20M can go pretty quickly with a cost blow out. Larger mining service contractors have been undone by less.
Not to sure on governance either noting they did a cap raise last year for $3M despite having ample cash and it not being used. Off strucutre with two operating businesses that are largley seperate.
If they were paying a dividend or returning some cash to shareholders I would be very interested. Interested to see if anyone has any more thoughts or research on the company.