Ann: Binding agreement to sell PYBAR for $65 million, page-9

New to MYE. Not (yet) held. Bear with me, still going through everything on the company - noting I'm repeating what others have stated already..

Looks like a decent sale of PYBAR @ $65m. What MYE is left with is a coal contracting business that should do 12-13m EBITDA for 2HY24. Losses carried forward and reduction of interest payments, looking at a NPAT ~10-11m for the HY.

They appear to have a decent order book already for FY25.

Company appears to have historically reliant on borrowings, I'd like to see that stop:

I hope they don't pay a dividend, firm up their balance sheet and secure order books for FY25.

Do I think this is a long-term investment? No. I think this is a value opportunity. Long-term mining services have thin margins, are competitive and full of risks. However, the value opportunity is there - hence my interest.