LCM - Logicamms

[rbel038]

I have been holder for a few years with this smaller mining services / oil & gas company , they recently bought out ITL in new plymouth who are a well respected oil & gas engineering company in NZ.

It was one of my first shares I bought (mainly because I work for a competitor who is privately held) so I am interested if anyone has any views on LCM at its current share price, I was potentially thinking of topping up more now that more work for our company seems to be coming through the door.

Thanks

[Joshuatree]

Ive been in and out twice but its been off my radar since the disappointing feb results. Management have resized and cost cut and are forecasting EBITDA FY14 re $7million. Uncertainty keeping the s/p on a big down trend ,is it becoming a good invest?Is the bottom nearly at hand? Can't remember what % of work is /was in mining compared to gas. "...While LCM continues to see a significant pipeline of opps ,both capital and operational investment decisions have become more complex and continue to be deferred". "Hydrocarbons mkt remains strong...." (from may update). Have 2 knowledgeable friends re this sector. One is still believer, one like me bailed.

[Joshuatree]

Hey rbel038 appreciate your thoughts /knowledge if you're willing?

Maybe way too soon or a fake but the M/S sector looks a little like turning up from a bottom.

[rbel038]

Hey rbel038 appreciate your thoughts /knowledge if you're willing?

Maybe way too soon or a fake but the M/S sector looks a little like turning up from a bottom.

I can only really speak from my own experience as working for an EPC in the energy sector. We have 3 large contracts that are due to be signed in the coming month which have taken 12months or more to negotiate and get through the bidding phase. This parallels in my opinion to what LCM were referring to last year as "huge opportunity pipeline" or however it was worded, i.e these projects have taken alot longer than anyone in our company expected to get through the door, but now things are starting to look up for us.

Now we are staring down the barrel of being completely overloaded with work in 3 months time and having to recruit! I will be watching seek in the coming months to see if there is a massive influx of job ads for the energy and mining sector. I think this would be a good indicator of the industry turning the corner and investors money flowing back into the industries. Keep an eye out on those job ads for ITL :)

[rbel038]

This sector has done pretty well in the past month, people finding value in the sector?