VMX valmec limited
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Argonaut and Arrow Project

  1. edshann
    2,495 Posts.
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    17/04/20
    11:34
    Post #: 44097788
    Argonaut have revised down the VMX price target from 0.42 to 0.35 cps due to lower revenue and margins. Still earns 2.5 cps in FY 20 and 2.8 cps in FY 21. Notes balance sheet is tight if Covid is extended.

    Shell and Petro China will go ahead with the first phase of the Queensland coal seam Arrow Energy project worth $10 billion according to AFR. Well drilling starts this year and production in 2021. Could that provide some extra work for VMX?
    VMX Price at posting: 17.0¢ Sentiment: Hold Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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