Frank Villante, Celeste FM

“ MACA ’s result impressed. Management has an excellent track record, the company is well regarded by customers, and revenue is likely to grow well in the medium term. This mining services company is also attractively priced and generates great returns. We expect MACA, of which Celeste is a shareholder, will generate a return on equity of more than 20 per cent. It has no debt on the balance sheet. The market’s current hatred of all things resources creates opportunity for patient investors who are prepared to think laterally."