This new float should do well in the current mining boom:
Novacoat Holdings Limited - new float advertising and supporting Hotcopper
As you may know to list a company on the ASX you need 400 shareholders with at least $2,000 in stock. For Novacoat the majority of the smart money is spoken for and the job now is to complete the 400 shareholder spread.
From the advertisers that offered Hotcopper Members stock in Riversdale ASX:RIV at 20c now 62c and Mirabela ASX:MBN at 20c now 54c…….Hotcopper is being offered to take up some of that spread.
Mining services is about as boring as Monadelphous ASX:MND moving from $3.06 to $11.55 in the last two years! - now with a Market Capitalisation of $220 million. Other Mining Services companies have been performing well such as Austin Engineering 20c to a high of 52c, RCR Tomlinson 35c to 75c, and Programmed Maintenance Services $1.50 to $3.25.
Novacoat Holdings Limited (ASX:NVC) is a Mining services company currently offering a minimum of 5,000,000 and up to 7,000,000 shares @ $0.30 to raise up to $2.1m. The Novacoat business has been operating since 1991 and is trading profitably in what is expected to be a sustained period of massive growth in the resources sector in WA.
Assuming the full $2.1m is raised, the company will have approximately $3.3m in cash and $2.1m in tangible assets (total $5.4m) at listing, with a market capitalisation of less than $6.75m. The last financial year saw the business record unaudited revenues of $5.98m and an unaudited EBIT of $755k.
The Board and Management have proven experience in Mining Services and in being able to acquire and integrate new businesses. The focus of the company is to move into long term on site maintenance contracts and follow the path of the great success stories of companies like United Group (ASX:UGL) and Monadelphous (ASX:MND).
Stock will be keenly sought after in both the West and East Coast and the offer is expected to close early and over subscribed.
Hotcopper is offering the 1st 40 members to get their application forms to Computershare Perth the opportunity to get an allocation of between $2,100 (7,000 shares) and $7,500 (25,000) shares each. Cheques need to be made out to 'Novacoat Holdings Limited - Share Offer Account" and sent to Computershare Investor Services Pty Ltd, Level 2, Reserve Bank Building, 45 St Georges Terrace, Perth, WA 6000. For large amounts you will need to call the manager on 08 9322 9158.
The Prospectus can be downloaded from http://www.novacoat.com.au/disclaimer.html
A research report can be downloaded from the company website at www.novacoat.com.au/report.pdf
A response by 14 March 2005 is recommended.
If you want a hard copy prospectus email us at [email protected] and we will post a copy out to you. Alternatively called the manger to the issue on 08 9322 9158 for a prospectus or further information.
Regards,
Hotcopper Admin
www.hotcopper.com.au
[email protected]
NVC
novacoat holdings limited
