Just trivia, we had 74 rigs working last quarter. If we consider 90 rigs to be around the maximum that could be working , that leaves 16 to find work. If in fact all 16 were put to work on 1/10/2023 and earns say 3 million each over year and for simplicity made an ebitda margin of 20% with 100% conversion, it would take 10 months before they made a cash contribution to the business. By the 1/12/2023 those 14 rigs would have consumed 14x ( 3000000/ 6) being yearly income per rig divided by 2 months of funding x 0.8 or $5600000. There are a few inaccuracies in the calculations and assumptions made, but it shows how mSv performance has been somewhat masked by its massive growth.
Just a bit more trivia. MSv boasts a world class fleet of rigs. You can’t do that forever without renewing or upgrading the fleet. If you have a fleet of 100 rigs and they have a shelf life of 20 years( I’d be surprised if there were many if any rigs more than 15 years old working for tier one companies) You would need to purchase 5 new rigs a year to maintain the cycle. Of the idle rigs how many are fit for purpose? How many would be allowed on a Tier one mine site ?
All credit to mSv to pick up good rigs at the bottom of the cycle. But they don’t stay new forever.
- Forums
- ASX - By Stock
- MSV
- Ann: Quarterly Investor Update
Ann: Quarterly Investor Update, page-10
- There are more pages in this discussion • 9 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add MSV (ASX) to my watchlist
(20min delay)
|
|||||
Last
42.0¢ |
Change
0.020(5.00%) |
Mkt cap ! $89.70M |
Open | High | Low | Value | Volume |
41.0¢ | 42.0¢ | 39.5¢ | $26.95K | 67.13K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 2500 | 40.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
42.0¢ | 33924 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
8 | 121489 | 0.390 |
3 | 31145 | 0.385 |
5 | 121343 | 0.380 |
1 | 8333 | 0.360 |
2 | 24400 | 0.355 |
Price($) | Vol. | No. |
---|---|---|
0.420 | 33924 | 2 |
0.425 | 23520 | 1 |
0.430 | 93776 | 1 |
0.445 | 22471 | 1 |
0.450 | 120549 | 3 |
Last trade - 16.10pm 10/05/2024 (20 minute delay) ? |
|
|||||
Last
41.0¢ |
  |
Change
0.020 ( 3.80 %) |
|||
Open | High | Low | Volume | ||
40.0¢ | 41.0¢ | 40.0¢ | 12962 | ||
Last updated 15.37pm 10/05/2024 ? |
Featured News
MSV (ASX) Chart |