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Company News
Drilling services companies back in favour as mineral exploration booms
Pickaxe sellers, a legendary and largely extinct species, were once described as the major money-makers in mining, a title transferred in part to a new breed of hole diggers, companies selling drilling services. The modern way of punching through the earth’s surface is essentially the same as a man with a pickaxe and shovel, only […]
How to find winners in the mining services sector
At a time of bumper dividend payouts from the likes of Rio Tinto (ASX: RIO) and – presumably – BHP (ASX: BHP), most investors seeking a resources exposure would be happy to invest directly in the major producers. Of course, the history of resources is also about endless boom-and-bust cycles – and if history doesn’t […]
Mitchell Services to acquire Deepcore Holdings for $32m
Mitchell Services (ASX: MSV) will acquire privately-owned Deepcore Holdings Pty Ltd for $32 million under a binding agreement announced this morning, with Mitchell claiming the combined entity will be one of the largest pure play drilling service companies in the country. In consideration for the acquisition, Mitchell will pay $15 million in cash and issue […]
Mitchell Services boosts cash flow, pays down debt
Drilling solutions provider Mitchell Services (ASX: MSV) has recorded a big jump in operating cash flow for the December 2018 quarter as a result of increased work levels, while revenue figures improved marginally. The company generated $10.9 million in operating cash flow for the three months to the end of December 2018, up 159% from […]