Prudence, and the last man standing

摘要

If anyone had a magic formula to prevent mining companies going belly-up during downturns - particularly the extreme varieties, such as the GFC of 2008/09 - they could make their livelihood out of forecasting, rather than digging. While the risk and exposure that companies face varies radically, there are some basic rules which could enable companies to be "the last man standing" in the event of a severe downturn.