re: Ann: Acquisition of African Engineering B... IMO, this is an interesting announcement for a number of reasons.
1. LYL is seeing growth come from acquisition rather than new projects. As the mining services industry consolidates to fewer players, rationality should, hopefully, return to the sector with regards project pricing.
2. LYL see synergies with their current operations - this is always good as they go straight to the bottom line.
3. Funding is from cash on the bal sheet. Once again, a pristine bal sheet serves a company much better than a leveraged one. (even if financial advisers don't think so!!)
4. Market gave it a big tick.
HT1
re: Ann: Acquisition of African Engineering B... IMO, this is an...
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Last
$12.54 |
Change
0.460(3.81%) |
Mkt cap ! $498.3M | |||
| Open | High | Low | Value | Volume |
| $12.06 | $12.60 | $12.06 | $940.6K | 76.26K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2000 | $12.51 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $12.56 | 1000 | 1 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| LYL (ASX) Chart |