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  1. #1
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    Post 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

    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
    Last edited by SCHUMACHER; 27-07-2016 at 10:58 AM.
    \"if women didn,t exist , all the money in the world would mean nothing\" Aristotle Anasis.

    \"The trend is your friend\"

    \"A mans reach should always extend beyond his grasp" J.F Kennedy

  2. #2
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    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

    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
    Last edited by SCHUMACHER; 27-07-2016 at 12:22 PM.
    \"if women didn,t exist , all the money in the world would mean nothing\" Aristotle Anasis.

    \"The trend is your friend\"

    \"A mans reach should always extend beyond his grasp" J.F Kennedy

  3. #3
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    Owned HDX once - seemed to be all go until coal miningg took a turn and miners squeezed the contractors margins

  4. #4
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    Quote Originally Posted by NZSilver View Post
    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


    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
    Last edited by SCHUMACHER; 27-07-2016 at 12:52 PM.
    \"if women didn,t exist , all the money in the world would mean nothing\" Aristotle Anasis.

    \"The trend is your friend\"

    \"A mans reach should always extend beyond his grasp" J.F Kennedy

  5. #5
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    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
    Last edited by SCHUMACHER; 27-07-2016 at 01:55 PM.
    \"if women didn,t exist , all the money in the world would mean nothing\" Aristotle Anasis.

    \"The trend is your friend\"

    \"A mans reach should always extend beyond his grasp" J.F Kennedy

  6. #6
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    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
    Last edited by SCHUMACHER; 27-07-2016 at 04:25 PM.
    \"if women didn,t exist , all the money in the world would mean nothing\" Aristotle Anasis.

    \"The trend is your friend\"

    \"A mans reach should always extend beyond his grasp" J.F Kennedy

  7. #7
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    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

    this company is well undervalued and should be trading around 6c -8c in terms of NTA (net tangible asset) backing
    Last edited by SCHUMACHER; 28-07-2016 at 01:40 PM.
    \"if women didn,t exist , all the money in the world would mean nothing\" Aristotle Anasis.

    \"The trend is your friend\"

    \"A mans reach should always extend beyond his grasp" J.F Kennedy

  8. #8
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    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
    Last edited by SCHUMACHER; 28-07-2016 at 01:54 PM.
    \"if women didn,t exist , all the money in the world would mean nothing\" Aristotle Anasis.

    \"The trend is your friend\"

    \"A mans reach should always extend beyond his grasp" J.F Kennedy

  9. #9
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    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
    \"if women didn,t exist , all the money in the world would mean nothing\" Aristotle Anasis.

    \"The trend is your friend\"

    \"A mans reach should always extend beyond his grasp" J.F Kennedy

  10. #10
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    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 as always time will tell
    Last edited by SCHUMACHER; 29-07-2016 at 02:55 PM.
    \"if women didn,t exist , all the money in the world would mean nothing\" Aristotle Anasis.

    \"The trend is your friend\"

    \"A mans reach should always extend beyond his grasp" J.F Kennedy

  11. #11
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    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
    Last edited by SCHUMACHER; 15-08-2016 at 03:49 PM.
    \"if women didn,t exist , all the money in the world would mean nothing\" Aristotle Anasis.

    \"The trend is your friend\"

    \"A mans reach should always extend beyond his grasp" J.F Kennedy

  12. #12
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    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

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



    Todays VWAP 3.32c
    Last edited by SCHUMACHER; 15-08-2016 at 05:38 PM.
    \"if women didn,t exist , all the money in the world would mean nothing\" Aristotle Anasis.

    \"The trend is your friend\"

    \"A mans reach should always extend beyond his grasp" J.F Kennedy

  13. #13
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    Ramping thread

  14. #14
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    Quote Originally Posted by ratkin View Post
    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 -
    Last edited by SCHUMACHER; 15-08-2016 at 05:37 PM.
    \"if women didn,t exist , all the money in the world would mean nothing\" Aristotle Anasis.

    \"The trend is your friend\"

    \"A mans reach should always extend beyond his grasp" J.F Kennedy

  15. #15
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    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
    Last edited by SCHUMACHER; 15-08-2016 at 06:45 PM.
    \"if women didn,t exist , all the money in the world would mean nothing\" Aristotle Anasis.

    \"The trend is your friend\"

    \"A mans reach should always extend beyond his grasp" J.F Kennedy

  16. #16
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    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

    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
    Last edited by SCHUMACHER; 16-08-2016 at 08:23 AM.
    \"if women didn,t exist , all the money in the world would mean nothing\" Aristotle Anasis.

    \"The trend is your friend\"

    \"A mans reach should always extend beyond his grasp" J.F Kennedy

  17. #17
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    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
    Last edited by SCHUMACHER; 17-08-2016 at 12:51 PM.
    \"if women didn,t exist , all the money in the world would mean nothing\" Aristotle Anasis.

    \"The trend is your friend\"

    \"A mans reach should always extend beyond his grasp" J.F Kennedy

  18. #18
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    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
    Last edited by SCHUMACHER; 19-08-2016 at 03:02 PM.
    \"if women didn,t exist , all the money in the world would mean nothing\" Aristotle Anasis.

    \"The trend is your friend\"

    \"A mans reach should always extend beyond his grasp" J.F Kennedy

  19. #19
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    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
    Last edited by SCHUMACHER; 19-08-2016 at 04:08 PM.
    \"if women didn,t exist , all the money in the world would mean nothing\" Aristotle Anasis.

    \"The trend is your friend\"

    \"A mans reach should always extend beyond his grasp" J.F Kennedy

  20. #20
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    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
    Last edited by SCHUMACHER; 22-08-2016 at 12:28 PM.
    \"if women didn,t exist , all the money in the world would mean nothing\" Aristotle Anasis.

    \"The trend is your friend\"

    \"A mans reach should always extend beyond his grasp" J.F Kennedy

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