Swick have been underground core drilling specialists for ages....

Swick have been underground core drilling specialists for ages. They make modify drill machines and achieve high efficiencies. For past couple of yrs they have spoken about modifications that will reduce personnel by one-third and these are being trialed at a few sites.

Latest update talks about new version which can drill with only one person involved and even then for periods without any human intervention. With wages the biggest cost this has potential to increase earnings considerably and to gain business from competitors.

Some of these changes have taken longer than i expected but it seems widespread introduction is not too far away. Macro for minig services remains poor but will these new machines be an industry gamechanger? I hope so after re-entering on Friday at 14c. Should have waited a few more days but at 13 c good buys can be had imo.

My main fear is that writedowns are promulagated for the yr end. Hopefully SWK will still continue with dividends to shareholders... many of whom have taken a severe battering over past yr(s).