- 24 December 2006
Gday drmb. Was listening to the audio Boardroom and came across (IMD). Like this from both a fundamental and technical position currently. I will enter if it can break through that 50% level shown around $1.32. Possibly completed a wave 4 corrective phase, and now look for a new impulsive wave up which would be shown with 5 subdivided waves. Very good opportunity at these levels it seems.
Lachlan - not sure if you followed up on this one. It now has taken out 1.60 again with a few good trading days closing today 1.640 up +0.120 with vol 829,056, this on news of global alliance with Sandvik, "significant revenue increases" (does that mean profit?)
IMDEX FORMS GLOBAL ALLIANCE WITH SANDVIK MINING AND CONSTRUCTION
Statement by I F Burston, Chairman, Imdex Limited Imdex Limited (Imdex)(ASX Code: IMD) is pleased to announce that it has executed a major global distribution agreement with Sandvik Mining and Construction, a division of the Sandvik Group (www.sandvik.com) for the supply of down hole instrumentation and drilling fluids & chemicals.
This distribution agreement will generate significant revenue over a number of years and augments the strategy of ensuring Imdex becomes a significant global company in providing products and services to the mineral, energy, water well and civil industries.
Sandvik is a world-leading provider of equipment and solutions for mineral exploration, underground mining, surface mining and specific areas of the construction industry such as quarrying and tunneling. Today, Sandvik Mining and Construction employs over 12,000
employees in 130 countries.
The alliance agreement is also further evidence of Imdex’s market leading technology, particularly in the down hole instrumentation area. The acquisitions of Reflex, Chardec and Flexit and a commitment to ongoing research and development will further add to Imdex’s market leadership in technology for the minerals, energy, water well and civil industries