SWK swick mining services ltd
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Ann: HY20 results conference call, page-3

  1. Nano_Land
    282 Posts.
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    26/02/20
    10:43
    Post #: 43157400
    Mitchell Services (MSV) and Capital Drilling (CAPD) are your best guides to valuation.
    From my estimates they trade between 3.5x (Capital - based in Africa) and 4.5x (MSV)
    If we place SWK on the mid-point (4.0x) and use FY21 estimates as "sustainable" (my estimate is $35m) then Drilling is worth $140m.
    Even on FY20 guidance (=FY19 or $28m) this would imply $112m
    Either way, well above curent share price, then we have OreExplore and excess franking credits
    SWK Price at posting: 17.5¢ Sentiment: Buy Disclosure: Held
    Likes Created with Sketch. 1  Upvote
    lightbulb Created with Sketch.  Great analysis
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