@saintex Fully agree with your points. A nber of LTH in SWK are tired of waiting for changes and will believe it when they see it. But reading the Media release + Annual report it seems clear to me this is happening now and some investors share that view too as the SP has already gone up from 15 to 29 sen. Lets not forget the MD has around 30M shares. Add info, Northern Star is a big customer and obviously they like what SWK is delivering for them: SWK got their biggest contract ever at Jundee Gold in 2021 for 14 rigs and add work at their POGO mine in Alaska as SWK is going from (initially 8 in 2019) 10 to 12 rigs there next month. These 2 sites alone already represent almost 50% of all work for SWK by nber of rigs. Also they wrote about improved operations costs wise + productivity across all sites highlighting several times the Alaska POGO site so getting more work in POGO will be earnings accretive.I believe the POGO site took time to meet SWK expectations ( start in 2019) but in 2021 it has "matured". Besides NST ,mgmt indicated that existing clients demands were increasing. Furthermore they completed a review and from now on the useful lives of underground rig components will be extended from 5.5 to 7.5 y= $ 2.1M less depreciation/y based on 2021 figures. I like that they turned in H2 2021 their engineering division into a profit centre ie building and selling rigs..and selling spare parts. It is already contributing positively. Mgmt is now taking real action to sweat SWK assets as much as possible to improve the bottom line.Gearing has gone down from 21% to 2.9% in 2 years.. On Orexplore, it has taken time definitely but you are talking here about an alternative to the traditional assays processes. Overall i would consider SWK a good target for a Private Equity takeover.
