Ann: Euroz Hartleys Conference Presentation, page-4

It reads to me as if the company is (still?) looking for a buyer.
• Fleet (641 items) with a booked value of $0.5billion
• The list of what the fleet comprises…
• News the ex-Karara fleet (some of which at least I had read on a workers’ forum is old, uncomfortable and much battered?) is ready for deployment elsewhere (but no mention of the tender pipeline).
• The list of clients
• And more talk on modernising some  trucks in the fleet.



It uses more slides than today’s  NRW presentation.  but I feel gives much less investor-encouraging information  than NRW’s   (nb I am a shareholder in both companies but biased towards NRW)
- bar that, if you add everything they say up, it is bargain-priced and ready for the next 20 years.

Market cap $259.7m at close today
Bank Debt $324.5m as at 31/12/21
Cash (31/12/21) - $116.4m (with $5.5m of that spent  paying off the final instalment of the Downer acquisition in January (https://www.australianmining.com.au/news/maca-to-buy-downer-wa-mining-business-for-175m/)

The Downer (Mining West) fleet was 126 items and, by all accounts Downer had been doing it hard for years so I doubt there were any big new spends on that.
When did MACA last spend big on CAPEX?
Does anyone know?

cheers

(PS I bought a few more shares at close today thinking that if MACA is bought it will be at a higher price than it is currently trading at but applying a bit of deeper thought it seems to me the best thing it may have going for it are some of the clients (with others presenting possible problems).

Good luck to holders