| The big miners may still be reluctant to call the bottom of the resources cycle but some big companies have made the call and are grabbing assets today at what may prove to be bargain prices tomorrow. Having been in the gutter not so long ago, all of a sudden the sector is the centre of bottom-feeding corporate activity.
The rally in stock prices shows the corporate activity has missed the lows, but clearly there is plenty left to go at the start of what may be a new cycle. The increased takeover activity has pushed mining services company stocks to 52-week highs in recent weeks — close to double the lows hit either last year or early this year........................................Full Article: Source
|