What an absolute dog that has turned out to be
Margins plummeted, rising debt, divi scrapped and poor liquidity!
Rising revenue but when working too cheap highly likely to get more work which looks to be the case here.
Debt now at circa $60m. enormous rise
Their balance sheet now have payables and receivables at same approx value however they only have $2.5m in cash. Very precarious position.
Do they need to do a cap raise??
Either way this has turned out to be another Mining Services poor performer- and in boom times. If work slows or there is some sort of hick up this thing is all over. Too highly geared and too small
margins
looking at the multiples this has traded at since listing I expect the SP to be at around 55-60c until full year results come
out. If it delivers a similar half as the previous it will continue its down hill slide
How do management and brokers get this so wrong, it's only been list for such a short period
Poor performance all round
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Last
62.0¢ |
Change
-0.010(1.59%) |
Mkt cap ! $91.52M |
Open | High | Low | Value | Volume |
62.0¢ | 63.0¢ | 61.0¢ | $197.9K | 318.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 19841 | 62.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
64.0¢ | 3219 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 19841 | 0.620 |
2 | 6500 | 0.615 |
1 | 5737 | 0.610 |
2 | 3000 | 0.600 |
1 | 1560 | 0.590 |
Price($) | Vol. | No. |
---|---|---|
0.640 | 3219 | 2 |
0.650 | 11200 | 2 |
0.660 | 24000 | 2 |
0.670 | 8196 | 1 |
0.680 | 39708 | 3 |
Last trade - 15.36pm 15/10/2024 (20 minute delay) ? |
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