Hughes Drilling Limited ("HDX")

[DarkHorse]

http://www.couriermail.com.au/busine...-1226863675649
How do you see these cut backs in Australian production affecting HDX Steve and JT?

[Joshuatree]

Dunno but coal will keep pumping out and HDX is the go to company if you want to reduce costs(being a lowest cost production blast driller etc) anyway so they may get more contracts!!. I didn't see a statement actually saying a cutback in production. Its in the bottom drawer for me until next results; they will decide whether we've backed a good horse here. Sometimes just too much dust and chaff in the noise out there on a day to day basis. Reich drill doing well in the USA ,just one division(Hughes Delin) that could improve to a more positive position. Back in the hammock with a quick kick to get the swing going.

[DarkHorse]

Good points. I know the main issue for coal is price - which could as you say even benefit HDX, but eventually might total output fall as production becomes uneconomic?
From link above: "The blow out in wages and prices has forced significant closures and the loss of about 8000 jobs in the Queensland coal industry."
How competitive is the Australian industry?

[Corporate]

The biggest issue I have with HDX is the lack of communication !

[macduffy]

The biggest issue I have with HDX is the lack of communication !

Indeed!

Has anyone been able to access the Investor Briefing of 6 March which appears in the ASX Announcements list?

[Joshuatree]

How about if we all email the company for this (i have) http://www.hughesdrilling.com.au/contact

Maybe it will motivate them to pull finger and put it on their empty website. A good summary of the briefing is on H/C. Management saying $100 mill rev doable for the year. Its all on the 2nd half. Lumpy Gravy hopefully

[Joshuatree]

PDF YAY! an update from HDX today and it looks Great.

Major Reichdrills/Express hydraulics rig supply contracts signed
8 rigs supply contract into new mkt in AFRICA

Contract extensions for two blast drilling ops

Express hydraulis has won contract to supply up to 7 c700 rigs to a major open cut coal mine in the Hunter valley etc etc

First water boring contract for Sirius.

Plenty of shares avail @ 23c

New distrutors in new territories for Reichdrill

[Okebw]

I've been keeping an eye on this one for a wee while.
Picked up a small holding (10K) to start with and intend to add to if the next quarterly report looks good

[Joshuatree]

I resist averaging down on stocks but today i can't

[percy]

I resist averaging down on stocks but today i can't

I nearly joined you.
Then I thought ,what would KW say?, and decided against it.!!!
lol.