BEL sitting at R38 with gold doing what it does, but the real question is whether they can actually grow ea…by @jim_jse4 on $BEL

BEL sitting at R38 with gold doing what it does, but the real question is whether they can actually grow earnings or if we're just riding the commodity wave. Mining capex cycles are brutal, and if the majors pull back on equipment spend, BEL gets hurt hard. That said, they're not some penny dreadful, they've got actual contracts and recurring service revenue to lean on when spot goes quiet.