Msv - mitchell services limited

MSV
Great story unfolding on this one - MSV have JUST secured themselves a 2 year contract for their services by Glencore

they have grown by another 10 million YOY and now 32 + million per annum and growing - heres some background on the owners and what they have achieved to date - they certainly have some clout

FY16 BUSINESS OVERVIEW
No lost time injuries in
FY16
$32m+revenue in FY16
EBITDA positive FY16
Nitro acquisition completed on time and on budget
Circa 90% of income is from Tier 1 * mining and energy companies


Statement by others >....
"MSV is business is funded by Soul Pattinson and Nathan Mitchell whose family has made tens of millions from drilling services over the past 30 years or so - smart people who are well connected in providing drilling services to tier 1 mining companies."

MSV are a savvy and professional drilling services company that bought most of its drilling rigs from Receivers of failed drillers over the past couple of years . the key to their meteoric rise is that they managed to secure drill rigs at a small percentage of what it would cost to replace them so essentially they have achieved this at a massive discount to market value - They now have 56 rigs today and now they winning major Tier #1 clients - with 30 million in secured contracts

90% of their revenue is from Tier1 clients - with a very high net worth and market cap companies in the mining sector - it appears they are a cash cow and currently undervalued by the market which is why im interested......


SUMMARY
Mitchell Services vision is to be Australia’s leading provider of
drilling services to the global exploration, mining and energy
industries
• Tender pipeline provides opportunity for further revenue growth
• Mitchell Services can utilise acquired assets and generate a
superior return versus buying new equipment
• EBITDA positive at less than 30% annual rig utilisation in current
pricing environment
• Ability to leverage increased returns in an improving market
• Mitchell Services has an experienced board and
management team who have proven success
in business development and growth


Some of their recent Major contracts

February 2016
"Mitchell Services Limited (the Company) is pleased to announce that it has secured a three-year contract
with mining company South 32 Limited at its Cannington mine site.
The contract is for provision of surface and underground drilling and is anticipated to be worth
approximately $14 million in revenue over the three year period.
In announcing the award, Chairman Nathan Mitchell said:
“Ensuring continuation of the surface work and securing the new underground work is extremely
rewarding as it demonstrates the excellent working relationship that the two companies have fostered
over the past 15 months.

June 2016
" Mitchell Services Limited is pleased to announce that it has secured a two-year contract with global
resource company Glencore at its Clermont operation for the provision of near mine exploration drilling"


definately a turnaround story and soon to become very profitable - current price 2.2c - valuation should see this trading around 8c based on forward work and millions of dollars in rigs :D

THINK THE AVERAGE RIG IS A MILLION SO THEY HAVE 56 MILLION VALUE IN EQUIPMENT ( i dont know the cost of drill rigs but recent purchase of a new rig was approx 1.1m from memory) perhaps someone here knows the industry intimately and would know the average cost to procure drill rig units ???

Cheers Schu :)

looks like its going to run today people - First price target is 2.8c initially :) re-rating about to happen

BTW - if we break 2.3c then its a confirmed breakout and should run easily to 2.8/3c range :D

10, 000,000 traded yesterday all at 2.2c - there were approx 2 x 2 million buy lots wiping out 2.2c so could be something happening - revenue not a problem so maybe some more tier 1 contracts to be released

Owned HDX once - seemed to be all go until coal miningg took a turn and miners squeezed the contractors margins

Quote:

---

Originally Posted by NZSilver

Owned HDX once - seemed to be all go until coal miningg took a turn and miners squeezed the contractors margins

---

i Think the tide has finally turned as they now have 90% of their business revenue from tier 1 ( big boys) so they have less competition as tier 1 takes out most of the small operators as the criteria is tough to get these major contracts - thats why MSV have had such success of late and the market will re- rate them soon

YESTERDAY there was some large on market buys of 1-2 million shares so i suspect after their recent investor presentation in Noosa on Friday the people analysing this company now see it as a bit of a cash cow which has been flying unde the radar - the management are highly savvy individuals who know the market and have been able to secure the big contracts like Glencore :D


P.S now with all the price of gold on the increase and lITHIUM, Zinc, graphite explorers and producers on the rise - MSV now in the box seat to make some serious money as the tide turns in their favour - very smart indeed
GLTA

Buy depths starting to look interesting and once we clear 2.3c it should run - sellers starting to retreat which is always a good sign and fairly thin up to 3c - as always time will tell

couple of hits at 2.3c and we will be away flying as its previous resistence :)

Yes - we have a breakout at 2.3c - should retest 2.8c :)

short lived as sellers step in - wan$&$& LOL Confirms my belief that traders are everywhere and investors are outnumbered by pip traders - thank goodness im patient

Could today be the day we break 2.3C for good !

Looks like its about to fall and if so should run to 2.8c

And we are off !!!!! 2.3c gone- breakout hopefully :D

this company is well undervalued and should be trading around 6c -8c in terms of NTA (net tangible asset) backing

Nice one 2.4c now being taken which means if we clear this level it could run up 1c easily and hit 3c - just need a bit more volume :)


now first target is 2.8c and if we clear that next major resistence is around 3.8/4c
GLTA

and yet again profit takers and traders come in on the sell to slow it down - oh well in good time back to sleep and at least we got through 2.3c which is good sign for now

wELL FOLKS - Im just picking winners all over the place - this is why i spend hours researching and researching - bought this at 2.1c and now 3c

it did exactly what i thought it would do and that is break 2.8c within 48 hours
could go anywhere now either retrace and retest 2.8c or continue however considering its friday - profit takers may take their 50% return in 2 days :D as always time will tell

Nice volume going through today - up 10%

great story unfolding here - cant believe i got in at 2c/ 2.1c - should run to 4.5/5c region soon

32 million annual turnover and growing - and profitable

just had a look at the charts - 3.2c was resistance level on 4 March 2015 ( over 18 months old) so if it closes above will run much higher tomorrow as 3.2c is an old resistence level that easily got broken today --- next target will be 3.7c which is another old resistence level set back in Noverber 13 2014 - this is a turnaround story with a company who have the smarts to take this all the way back to 10c IMO

Time will tell but great story unfolding and poised to run hard - tightly held by management who have also been topping up :D

MSV generating 32 million P.A EBITDA positive - this company is a cash cow !!!!



Todays VWAP 3.32c

Ramping thread

Quote:

---

Originally Posted by ratkin

Ramping thread

---

Fairly arrogant and judgemental of you to come on here and add no value but to criticise others - besides Dont need to ramp this stock it moves on its own merits not based on whats written on this share forum site- surely you would know the difference - :)

Closed above 3.2c tonight on great volume which is good to see (3.2c being old resistance level from 4 March 2015. Closed today at 3.3c so will be interesting to see what happens at tomorrows open if we get a continuation of todays accumulation - anyone else like the fundamentals of this stock besides myself ??? LOL

I think MSV starting to get noticed by the wider investment community since their recent revenue numbers being released to the market

MSV Heres some background on the owners/shareholders/directors - AND some reasons why i think this will move hard in coming weeks /months which is why i think we could see 10c + by year end

(DYOR- this is not professional, nor financial advise to BUY stock in MSV and are only the views of an experienced investor in the stock markets for 17 years )

http://www.mitchellservices.com.au/

PROJECTS LIST - you will notice they have some major contracts with Glencore, Barrick Gold and Rio Tinto and many more

Following are some examples of our recent work on behalf of clients in the global energy and mining industry, concerning the following drilling services:

Coal Exploration Drilling
Mineral Exploration Drilling
Mine Services & Large Diameter Drilling
Coal Seam Gas & Shale Gas Drilling
Coal Mine Methane Drainage
Directional Drilling
Wireline Services
Underground
Exploration & Mine Services Program
Resource Definition Program
Mine Development Program

http://www.mitchellservices.com.au/projects

Nathan Mitchell
Executive Chairman

Mr Mitchell was appointed Executive Chairman on 20 March 2014. Mr Mitchell has been involved in the drilling industry for virtually his entire life and has been with Mitchell since the company’s earliest days. With a career spanning almost 30 years, he has a proven track record as an industry leader in technical development and business growth.

Mr Mitchell is currently Executive Chairman of Mitchell Group Holdings Pty Ltd including Ports, Energy, and Equipment. Previously, as CEO for Mitchell Drilling Contractors the company doubled in size and Mr Mitchell directed an international expansion expanding into India, China, Indonesia, the United States and various countries in southern Africa. Other directorships include Mitchell Drilling International, Sub161 and Verso Energy.

Then theres Washington Soul Pattinson who are LARGE financial backers, and key stakeholders / shareholders.

I repeat that this is definitely a turnaround story and these large stakeholders will grow their investment much more than current prices and will protect their interests and bring this stock back to where it should be - there are other drilling companies that we can draw comparisons with like BKN, ASL

The mining sector is booming or starting to boom again with interest in GOLD , GRAPHITE , LITHIUM , ZINC etc and drilling companies are capitalising - these guys are smart cookies and now have 58 drill rigs and PROFITABLE even when only 30% of their drill rigs are operational - so in the current climate where they are winning tier 1 contracts like Glencore (2 year contract awarded recently) these guys are set for a massive re-rating and its starting to happpen :D

Ive been preaching this company since i got in at 2c and its already up over 50% but because this is a re- rating it will go much higher as their cashflow and assets, management experience does not represent their true value nor their growing revenue based on major tier 1 contracts (which require a high entry level that most drill companies cant achieve and their health and safety record is impecable - and set of skills to win these sorts of major contracts with reputable firms - says a lot for the management at MSV , their large experience, funding / financial backing etc


MSV
Shareprice $0.031c (I would like to add that over 90% of our revenue is coming from Tier 1 companies in the mining sector) I.e Glencore etc

Our peers

ASL
Shareprice $1.10c

BKN
Shareprice $2.07

P.S IMO this is factual information that im bringing to this forum based on my research , as opposed to ramping

good support at low 3's - should head higher as investors take a look at their balance sheet and a return to strong profit for current quarter expected - only 2 weeks to go until end of quarter and if they have built on previous quarter we in for a jolly good ride

Add in a couple more Tier 1 contracts and we will be laughing

Look for a breakout at 3.3c and we should see high 3's early 4's

Not a lot of shares on offer now - so can easily put on 25% gain therefore looking forward to seeing the market re-rate MSV for all its hard work and 32 MILLION revenue results announced last quarter - still under the radar i suspect :)

Looking forward to next reporting - im sure they have more deals in the pipeline now so should see a breakout from current trading range - time will tell but nice consolidation between 3.1c and 3.3c - time for another run
Another stock thats undervalued by about 10 -20 million market cap :)

MSV is business is funded by Soul Pattinson and Nathan Mitchell whose family has made tens of millions from drilling services over the past decade - im sure they will get this to triple todays market cap in next few months - why? because they are securing tier 1 major long term contracts and market is slow to respond :)

their revenue is in excess of 32 million and they are EBIT Positive

Here we go 3.2c finally gone and buyers building and not much on the sell side now = break 3.3c and we will have a nice little run to retest 3.8c then into the 4's :D

Looking for a new closing high toward end of this week - Annual report due out by end of this month which will confirm/ show their % increases in revenue and Ebit which will show the market they are now worthy of a re-rating
Sellers retreating so should be a nice opportunity of breakout once we clear 3.3c

Management at Mitchell have turned this company around IMO - DYOR
now we need more drill rigs in operation around 50% in operation and we should be fine going forward - that simple more than a third of rigs operating we make money - less than 30% we lose money

WE WILL FINISH AT 32+ MILLION FOR THE YEAR according to the companies profit guidance and at 3.2c share its a good opportunity to get in before a potential move

if we are utilising minimum 30% of their drilling rigs we make profit and we currently sitting at 30% + ( just checked their report to confirm this ) - add in some of their new deals with Tier 1 companies l - solid revenue and a reason for a re rating

easy gains to be had here if patient - EXPECT THE ANNUAL REPORT OUT ON 29TH -30TH OF THIS MONTH :)

Pretty good update today + 20 % so far . Schumacher you still around ??
https://stocknessmonster.com/announc...asx-2A1129186/

DISC: Holding and one of my picks in ASX comp ....

Ahead of the half year results due on the 26 th MSV has taken out some lumpy selling @ 5 cents today and closed @ 5.1 on volume roughly 4* the daily average .

Results look ok and they have signalled an on market share buyback of 10 % of the stock .
Had a 5.5-5.7 range today closing on the highs , 13 mio shares through the market ... onwards and upwards.

https://stocknessmonster.com/announc...asx-2A1134910/

Quote:

---

Originally Posted by stoploss

Results look ok and they have signalled an on market share buyback of 10 % of the stock .
Had a 5.5-5.7 range today closing on the highs , 13 mio shares through the market ... onwards and upwards.

https://stocknessmonster.com/announc...asx-2A1134910/

---

An excellent result and a strong outlook.

Investor update today ... closed on the yearly high 6.4 cents ( CD although a tiny one ....) still good volume going through.
https://stocknessmonster.com/announc...asx-2A1146145/

Quote:

---

Originally Posted by stoploss

Investor update today ... closed on the yearly high 6.4 cents ( CD although a tiny one ....) still good volume going through.
https://stocknessmonster.com/announc...asx-2A1146145/

---

An extremely positive update.

Quote:

---

Originally Posted by stoploss

Investor update today ... closed on the yearly high 6.4 cents ( CD although a tiny one ....) still good volume going through.
https://stocknessmonster.com/announc...asx-2A1146145/

---

Mucked around at 0.645 yesterday and did not get any.
Upped the bid to 0.65 and got what I wanted ,before you cleaned out all the 0.65 sellers.!....lol.

Correct me if I am wrong as I very briefly read through the last few announcements and annual reports.
I see great cash flows increases over the years and they have reduced debt massively. And then went from never making a +NPAT in previous years to 11mill profit in the half year 19....is that right? Or did I read something incorrectly...

Quote:

---

Originally Posted by percy

Mucked around at 0.645 yesterday and did not get any.
Upped the bid to 0.65 and got what I wanted ,before you cleaned out all the 0.65 sellers.!....lol.

---

6.6/6.7 The Percy effect !!!!

Quote:

---

Originally Posted by LAC

Correct me if I am wrong as I very briefly read through the last few announcements and annual reports.
I see great cash flows increases over the years and they have reduced debt massively. And then went from never making a +NPAT in previous years to 11mill profit in the half year 19....is that right? Or did I read something incorrectly...

---

Reread them.I found after the second or third read I got very excited.
And to even think of buying another Australian stock took a lot of excitement.!
Did not buy many.
.

Quote:

---

Originally Posted by percy

Reread them.I found after the second or third read I got very excited.
And to even think of buying another Australian stock took a lot of excitement.!
Did not buy many.
.

---

I dialed into the last investor update .One of the biggest things for me was they picked up a lot of these drills and mining equipment at 50 % of the replacement cost . Very well run and I think they will continue to bolt on some small businesses along the way .They have a good pipeline of work- building for a boomer year next year .....
DISC : Holding & adding since 2016 :)

Those rigs are like aeroplanes, just keep them running for max hours just swap out the operators

Closed @ 7 cents tonight , on some decent volume. According to a HC post Morgans have initiated coverage with a 10 cent price target .

Like the forward PE of 8.
10 cents target price looks very achievable.

Excellent presentation out today.

Quote:

---

Originally Posted by percy

Excellent presentation out today.

---

Might just be me and you talking to each other Percy .... this one is helping me in the ASX comp.
Love some of the graphs in today’s presentation .


https://quoteapi.com/resources/da986...esentation.pdf

No joy with the link... I've recently bought them too - for the same reasons you mentioned in post 31, plus being a founder lead company which now has virtually nil debt. A lot of potential upside relative to downside.
Morgans notes that - not surprisingly - they have strong financial leverage to key inputs(utilisation, productivity and rates) to both the up and downside. These scenarios generate wide two-year EBITDA CAGR possibilities (+30% to -8%) and a wide valuation range (5.0-12.4cps). What’s critical here is: 1) clear asymmetrical upside to our valuation range, and in turn; 2) our comfort in further near-term upside to operating inputs (productivity and pricing),

If you go on stocknessmonster.com
You can read the report if you search MSV news 2019

Presentation makes good reading. Bought a small parcel as well, very cyclic business though, looking good at the moment though. As soon as fundamentals change il be out

Another good contract win announcement yesterday.

Quote:

---

Originally Posted by percy

Another good contract win announcement yesterday.

---

Yes they still look to be building up the work steadily .
My only reservation was the latest Substantial security holder sale .They are Holding 170 Mio now just under 10 % .... I saw yesterday 3.5 mio crossed and 5 mio on the open today @ 6.7 so maybe they are still selling ....( another mil @ 6.6 as well)
At least they are doing this on a rising tide and hopefully providing liquidity to new blood on the register ...
Looking forward to my divvy payment at the end of the month :)

Investor update , costs have risen as they have purchased new plant for lease by the looks of it . However it still looks to be a growing business with little debt.

https://www.asx.com.au/asxpdf/201907...tnjclr0pxz.pdf

Quote:

---

Originally Posted by stoploss

Investor update , costs have risen as they have purchased new plant for lease by the looks of it . However it still looks to be a growing business with little debt.

https://www.asx.com.au/asxpdf/201907...tnjclr0pxz.pdf

---

Most impressive.I am looking to adding to my holding.

Guys most of the metrics for this last qtr are less than the first two qtrs despite more rigs and more shifts indicating lower margins and less ebit ?
Appreciate your opinions. Not holding atp , holding SRG

Quote:

---

Originally Posted by Joshuatree

Guys most of the metrics for this last qtr are less than the first two qtrs despite more rigs and more shifts indicating lower margins and less ebit ?
Appreciate your opinions. Not holding atp , holding SRG

---

Second page.
second c] The majority of clients etc.............................................So most of June revenue due will go into July .

Ended up doubling my holding.

Thank You percy.

Excellent results today.

Yes a cracker.

PNC doesn’t seem to be going as expected though, the last announcement today is rather annoying after all the assurances the management team have given....should have moved the funds to MSV Sigh

Quote:

---

Originally Posted by LAC

Excellent results today.

---

https://www.asx.com.au/asxpdf/201908...nv0f9nxly2.pdf
annual report
https://www.asx.com.au/asxpdf/201908...nq8hrfjr1n.pdf

just listening to the investor presentation, dial in .. all sounds good . "Strong year ahead"

Been heading down the last few weeks. Update affirmed a good end result even though EBIT was lower than last year Q1. PE looks good at these prices;)

Another very positive update.with a strong out look.

Quote:

---

Originally Posted by percy

Another very positive update.with a strong out look.

---

Mention of a possible "special Divvy" bodes well as they have always been very conservative. I wouldn't mind if they concentrated on smashing down the debt from the acquisition , either way I'm happy .

Quote:

---

Originally Posted by stoploss

Mention of a possible "special Divvy" bodes well as they have always been very conservative. I wouldn't mind if they concentrated on smashing down the debt from the acquisition , either way I'm happy .

---

Yes we are "happy together," "either way."?..;lol.

Nice update. SP hasnt moved much though, MMI seems to be having better days. Wouldnt mind a special Divie;)

Thanks for the heads up on this one guys. I bought in at .068 after reading one of your posts last year and carrying out a bit of research. In the red since, but happy enough to hold to realise long term potential. Really enjoy some of the posts and attention you guys give to these smaller cap stocks. It opens up a whole new world to a relative newbie like me.

Quote:

---

Originally Posted by percy

Another very positive update.with a strong out look.

---

Quarterly Investor Update 2 pages 250.3KB

Fantastic result given it includes only a month's revenue from Deepcore but all acquisition related costs. As the report states - or understates - "this puts the Group on a solid footing heading into the second half of the 2020 financial year".

Hi guys, has the ticker for MSV changed, app doesn’t seem to be updating with MSv.asx

Try MSVDA....64 cents.
Share consolidation going on 1 for 10 [so old 6.4 cents.]

Thanks, I knew the consolidation took place but didn’t realise the ticker changed. .64c that looks better;)

Quote:

---

Originally Posted by LAC

Thanks, I knew the consolidation took place but didn’t realise the ticker changed. .64c that looks better;)

---

Take care.
Just as you get used to the new ticker, it will change back to the old one.!..lol.

Quote:

---

Originally Posted by percy

Take care.
Just as you get used to the new ticker, it will change back to the old one.!..lol.

---

Back to MSV today.

Thanks for the heads up

Solid result,strong outlook, and looking to pay another "special" divie.
Can't ask for more.

Was a little worried when I saw the initial page with NPAT down but reading along it was a good result. Got all of the expenses out the way early.

Market doesnt seem to like it

Market doesn’t like much at the moment 😂

Another excellent update . Managed to top up recently at 32 cents .
https://www.asx.com.au/asxpdf/202004...kfyzjf6knd.pdf

Quote:

---

Originally Posted by stoploss

Another excellent update . Managed to top up recently at 32 cents .
https://www.asx.com.au/asxpdf/202004...kfyzjf6knd.pdf

---

Yes got me excited..!!

Quote:

---

Originally Posted by stoploss

Another excellent update . Managed to top up recently at 32 cents .
https://www.asx.com.au/asxpdf/202004...kfyzjf6knd.pdf

---

I took some profit today , selling these ones @ .52.
Some good volume going through ,maybe an upgrade or new coverage coming . Still holding , think it has good potential.

Quote:

---

Originally Posted by stoploss

I took some profit today , selling these ones @ .52.
Some good volume going through ,maybe an upgrade or new coverage coming . Still holding , think it has good potential.

---

That is an excellent gain.

Quote:

---

Originally Posted by percy

That is an excellent gain.

---

Percy I might have gone a bit early , closed at 60 cents ��
Have to console myself that I am still well positioned ��
Looking at this I’d say something’s going on or somebody knows something ....
Time will tell .

Quote:

---

Originally Posted by stoploss

Percy I might have gone a bit early , closed at 60 cents ��
Have to console myself that I am still well positioned ��
Looking at this I’d say something’s going on or somebody knows something ....
Time will tell .

---

Did not see the finish.Just checked.
Up 29% for the day on good volume.?

Quote:

---

Originally Posted by percy

Did not see the finish.Just checked.
Up 29% for the day on good volume.?

---

Just over a million traded . Somebody wanted in , in a bit of a hurry ......,

I bought someone's at 47c

Another great update from MSV, divvy going to be paid unlike a lot of companies. Looks to be firing on all cylinders- if I was on HC there would be a lot of rocket emojis here :t_up:
https://stocknessmonster.com/announc...asx-2A1237179/

Quote:

---

Originally Posted by stoploss

Another great update from MSV, divvy going to be paid unlike a lot of companies. Looks to be firing on all cylinders- if I was on HC there would be a lot of rocket emojis here :t_up:
https://stocknessmonster.com/announc...asx-2A1237179/

---

Another cracker...

MSV continue to fly under the radar somewhat . A newly listed mining services company DDB has more than doubled since it's 20 cents list.
https://stockhead.com.au/ipo-watch/i...h-asx-listing/
MSV in the first half of 2020 made 26.5 % of it's revenue from Gold. With the current Gold price I am expecting they will be able to increase
the pricing on their rigs. Recently paid out a 1.1 cent divvy .
One day this might pop .....

Received my divie cheque today.
Share price up 10.9% today too.

https://stocknessmonster.com/announc...asx-2A1243002/
https://stocknessmonster.com/announc...asx-2A1243003/

Quote:

---

Originally Posted by stoploss

https://stocknessmonster.com/announc...asx-2A1243002/
https://stocknessmonster.com/announc...asx-2A1243003/

---

No surprises after quarterly update but boy this $120m mcap company is generating cash!
$31m operating cashflow FY incl $9.7m Q4

https://lh6.googleusercontent.com/z3...03XotVQvQ25cnC

Quote:

---

Originally Posted by DarkHorse

No surprises after quarterly update but boy this $120m mcap company is generating cash!
$31m operating cashflow FY incl $9.7m Q4

https://lh6.googleusercontent.com/z3...03XotVQvQ25cnC

---

Yes I think it will get even better next year with the Gold boom. Pricing/margin will increase .

Incredible keeping the rigs working through Covid 19 interstate travel restrictions.
Revenue increasing , debt reducing,and paying a divie..

Not a bad word in here , should be 75 cents by now ......(fingers crossed one day)
https://stocknessmonster.com/announc...asx-2A1257032/

Quote:

---

Originally Posted by stoploss

Not a bad word in here , should be 75 cents by now ......(fingers crossed one day)
https://stocknessmonster.com/announc...asx-2A1257032/

---

That was a good read! The management team there are doing a very good job.

Q1 2021 looks great compared to pcp. But compared to Q4 2020 revenue up a little and ebitda and cashflow down a little - ie margins down. Can anyone comment on seasonality of earnings?

Quote:

---

Originally Posted by DarkHorse

Q1 2021 looks great compared to pcp. But compared to Q4 2020 revenue up a little and ebitda and cashflow down a little - ie margins down. Can anyone comment on seasonality of earnings?

---

There are some charts in here with 1st half vs 2nd half if that helps.( there is a rainy season etc )
https://stocknessmonster.com/announc...asx-2A1209243/

Thanks Stoploss. No clear pattern there. Still, management upbeat and certainly in better shape than 12months ago despite lower share price (allowing for share split). Very cheap compared to free cashflow.

Just ran through the last few reports and it looks like it is def setup for a great year ahead. In my opinion it’s in the undervalued basket atm.

Quote:

---

Originally Posted by LAC

Just ran through the last few reports and it looks like it is def setup for a great year ahead. In my opinion it’s in the undervalued basket atm.

---

LAC , is that the investor presentation today that you are talking about ?
I’m of the same opinion but really limit long so not adding currently .

Quote:

---

Originally Posted by stoploss

LAC , is that the investor presentation today that you are talking about ?
I’m of the same opinion but really limit long so not adding currently .

---

I read the presentation today and then went back to the last 6 earnings reports and looked at where there were and where they are now. The tax payment FY20 made the figures look a little off but when u take into account the tax credit FY19 and then tax payment FY20, their actual bottom line is pretty good. I like the way they pay off debt as well, its a well run business. SP doesnt seem to get much steam but I have been adding a few recently. Hoping to grab a few more once some dividends head my way from other stocks.

This really hurt today - 20 % to 45.5 cents:t_down:
https://stocknessmonster.com/announc...asx-2A1280083/

Quote:

---

Originally Posted by stoploss

This really hurt today - 20 % to 45.5 cents:t_down:
https://stocknessmonster.com/announc...asx-2A1280083/

---

Business is tracking well, but the loss of this customer for the years to come and payment outstanding for the services rendered is pretty poor. Would still like to know why the continued the work. Conflict of interest is also another worry. Well lets see how it plays out

Quote:

---

Originally Posted by LAC

Business is tracking well, but the loss of this customer for the years to come and payment outstanding for the services rendered is pretty poor. Would still like to know why the continued the work. Conflict of interest is also another worry. Well lets see how it plays out

---

My thoughts exactly - good summary of the situation.

Bit of life back into MSV today , not sure why but the out of court settlement of the outstanding debt recently hopefully has them concentrating on making it all back.
Still like this and holding.

Listened in to the conference call. They are still very confident .
I added at 35 cents today , its probably one for next year .....
https://stocknessmonster.com/announc...asx-2A1359176/

Bit of a slow burner but I think this is slowly turning the corner .
Personally think this is a raging buy @ 40 cents.
All these resource stocks going gangbusters have to pay someone to drill it !!

Todays profit downgrade was a big disappointment ( especially as the shares got hit yesterday , certainly a leaky ship)
Investor update on the 27th April as well ...
https://stocknessmonster.com/announc...asx-2A1370332/

https://stocknessmonster.com/announc...asx-2A1374249/
Could be worse I could have Crypto .....