@saintex
-All DDH1 pre IPO shareholders were in escrow : the PE till release of FY 21 fi results. Founders and mgmt. 50% escrowed til release of 2021 fi results and balance until release of fi results FY 2022.Only one of the founders sold his shares right after the release of the fi results ( roughly 90% of what he was allowed) and it was done off market to institutional investors. Oaktree did not sell anything. I believe they seem the large potential for SP rise and have no issue waiting. Time will tell.
-FYI DDH1 was listed at $ 1.10 at forward Ebitda of 5.3. But they surpassed the prospectus figures and at $1.17 is still valued at only x 5.3 Ebitda versus x 8 Ebida for Canadian competitor Major Drilling( who bought WA based Mc Kay Drilling earlier this year).
-Both Major and DDH1’s mgmt. mention that due to a lack of exploration in 2012-2018 period the sector, especially gold, is at the beginning of an upcyle.
-IMO DDH1 and IMD are broadly exposed in the same way to the situation in the sector. Additinally both are innovative and have done/ doing smart acquisitions. Ideally they should merge! But one thing a t a time. For now let DDH1 focus on its merger with Swick as it will benefit the enlarged company a lot.
