One has to wonder why the big guys announce their major expansions well into a boom. Doing this ensures costs are high and delays are almost certain. When everything is ready, there is the risk of a new slowdown or high commodity prices inevitably succumbing to gravity. Instead they should be investing in the down cycle. To that point I say, "goodonya" David Flanagan (Atlas Iron). Investing if you can, while others are putting on the breaks will mean that when prices are better, you can reap the rewards of your investment. While things are slow, your costs will be lower and you will get more bang for your buck during the expansion. On a macro level, mining companies making investments during a down cycle pays better dividends for the economy as a whole. They get better value, but for the country, its like a form of economic stimulus, but with more efficiency than money spent by governments in the same mode.