Ann: Update on underground diamond drilling contracts, page-20

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glendronach

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30/07/19

12:35

Post #: 39758808
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Originally posted by sabine: ↑

I wonder if DDH1 is interested in acquiring Swick?

NB the mention it got in las week’s West story, and the context ..
https://thewest.com.au/business/mining/ranger-deal-expands-driller-ddh1-ng-b881175806z

.....“He said DDH1 Holdings would continue to search for acquisitions but few companies met its criteria of a strong brand and continued profitability during the mining downturn.

The volume of work for drilling companies had picked up significantly but pricing remained competitive, as it did for many mining service companies, Mr Pollock said. “We think we are getting to the point where there will be some margin improvement,” he said.

Fellow driller Swick Mining Services last month reported a near doubling of its operating margin for the six months to December to 21 per cent.

DDH1 director Bryon Beath, of Oaktree, said the ability of the three companies to grow during the recent downturn was a testament to their high-quality, differentiated service.

Canada’s Brookfield Asset Management bought 63 per cent of California-based Oaktree last month.”

According to last year’s annual report there are not so many holders and IFL has now increased it’s stake to 14.89%
View attachment 1536415
View attachment 1536418

Interesting ...

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Hi Sabine

I do not believe there is any connection. The lady simply has to sustain herself and sold off a small portion - 6%. I bet Kent wishes she kept it a bit lower! I would not read anything into it. If there was going to be a take over bid would you not be wanting to hold on? But yes that article is very interesting! thanks for that.
cheers

SWK Price at posting: 26.5¢ Sentiment: Buy Disclosure: Held
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