Breaking out, page-4

This is a well run business with revenues arcing up as mining services are back in demand and is trading at around 8 times FY18 operating cashflow with earnings highly leveraged to greenfield and brownfield exploration activities, making this a solid earnings performer over the next few years at least.
The share price should perform strongly post FY17 results release when a clear picture of future contracted rig demand should emerge because that's the key cashflow and earnings driver.

What I like most about this business is that the drilling rigs have been bought at half replacement cost and are consistently being deployed meaning that incremental revenues are going to grow at a much faster rate than the (low) incremental costs and that means bigger profit margins on growing revenues.

Get on and hang on chaps because this one is going higher.