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IMD - Imdex Limited

Discussion in 'Stocks I-P' started by drmb, Jan 27, 2007.

  1. willoneau

    willoneau

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    NUH daily.png
    I looked at MLX and on daily all i could see was going down. ( no idea how long ago you got in?)
    NUH would have given me a small loss too (entry end april and stopped out mid may, if i had traded it)
     
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  2. sptrawler

    sptrawler

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  3. sptrawler

    sptrawler

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    Reduced today, now playing with winnings, will re enter on weakness.
     
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  4. Miner

    Miner

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    Interesting research report from Bell Potter with a BUY note on IMD and price target $1.90.
    Please find attached note
     
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  5. sptrawler

    sptrawler

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    I might have to bite the bullet soon.
     
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  6. Miner

    Miner

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    BP predicted $1.90, regardless of the exciting news, the price closed a $1.65 today. Should we trust Bell Research - not me
    https://www.asx.com.au/asxpdf/20191202/pdf/44c6w3cl9t8s8b.pdf
    Having said that IMD surprised me . Less than 6 months ago the price was less than half of today's price. What happened - now what will happen to the company under new CEO ?
    Disclaimer - holding
     
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  7. barney

    barney

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    Nice;)

    What a Chart:cool:
     
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  8. finicky

    finicky

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    IMD at $1.56

    Imdex has put me through the wringer over the last decade but future's looking quite strong. New drilling tech that enhances productivity being trialled with multiple clients apace. Corevibe, Maghammer and Xtracta. Should boost revenues fy21. January was highest recorded month of revenue for Imdex and company clearly confident of a strong H2.
    Disc: Held
    Sentiment: worth a place on a mining services watchlist these days, imo. Don't know about the chart

    Here's concluding remarks from 1H20 conference call:

    Summary
    Positioned to deliver attractive returns
    • IMDEX has a strong financial platform generating recurring revenue, strong cash flow from
    operations and increasing shareholder returns;
    • We are outperforming market growth, largely due to our continued investment in R&D to
    deliver market leading technologies;
    • We are expanding market share and margins, driven by an unrivalled range of technologies
    and the benefits of being the first mover to cloud-enabled instruments;
    • We are building sustainable revenue and earnings growth – generated by our core business
    and via product and market extension;
    • IMDEX is an established global company with an ability to leverage our extensive client
    network and achieve economies of scale; and
    • We have a strong and disciplined leadership team with a successful track record of
    developing and commercialising technologies.

    Closing comments
    IMDEX’s core business is performing well and through the introduction of a number of new,
    patent protected technologies, the Company is poised to deliver substantial growth in revenue
    and earnings in the coming years.
    3 yr wkly
    big (8).gif
     
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  9. sptrawler

    sptrawler

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    I've done quite well, buying in and selling out, they are very cyclical.IMO
    Definitely a well run company and they have good drilling tech, but they don't seem to generate enough income from leasing or selling, just don't seem to be able to break into the big time IMO.
    I have always thought a big contract drilling company would buy them out, but it may be that the leasing works better for them, rather than the R&D tied up with developing new equipment?
    I will probably jump in again, if there is a dip.
     
    Last edited: Feb 18, 2020
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  10. finicky

    finicky

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    IMD @ 1.63

    I don't see IMD as being better than fair value right now but that does not take into account whether the company is set for a growth phase which is what they claim. In this environment though there might be a pullback in price making the shares attractive.
    The interview is with the incoming CEO (current COO) who talks about now being 100% focused on getting the newly acquired drilling tech: Maghammer and Corevibe, graduated from completed prototypes into commercial trials. Sounds like clients are jostling for it.

     
  11. sptrawler

    sptrawler

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    Yes this has been ongoing for a year or two, it has been going on that long I've been reluctant to jump back in.
    The drilling technology sounds great, but it seems to be just lingering at the 'almost there' stage, the roll out seems to be indefinitely just around the corner.
    Just my opinion.
     
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  12. frugal.rock

    frugal.rock

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    Haven't read the thread except for the last few.
    Picked up some IMD this morning.
    Will be happy to hold.
    The tech as discussed, I envisage will come to fruition soon enough.
    Aus in a mining boom, and drillers mostly will keep going through this virus period.

    F.Rock
     
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  13. sptrawler

    sptrawler

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    At 80c I think they are good buying, that was my last entry price from memory, they have a good balance sheet and run a tight ship.
    I would be buying, if there wasn't so many good buys around ATM.
    If there is another leg down, I will probably have a nibble.
    Just my thoughts.
     
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  14. finicky

    finicky

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    IMD @ .83
    I'm not buying it now personally because there's nothing in the chart yet to suggest a bottoming - that I can see anyway.

    Doesn't mean it won't prove a good entry price when looking back in a couple of years. If buying I would be layering in my buys, buying a bit at a time. It does look cheap for an innovative tech company that just had a strong Dec Half and has $25m net cash. FY19 ROE = 12%, current Price divided by fy19 book value = .83 ÷ .58 = 1.43 ... conservative share issuing history, the aforesaid cash, growing book value - cheap if you believe in the future. New M.D seems sharp.

    I was trying to get to posting something today on IMD and CDA on the 'Good Stocks to Buy on the ASX' thread actually but I'm having trouble getting some thoughts together. I would have qualified my posts as "good stocks to keep a close eye on" though, not as immediate buys, as I don't feel the selling's over for either, jmo. Maybe it's just pessimism finally getting to me.

    Held
     
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  15. sptrawler

    sptrawler

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    I am with you on the selling situation, we are in completely uncharted water with a major part of the economy shut down and no end in sight with regard the virus issue.
    IMO it will all depend on the outcome of the shutdown, if the virus is cleared, blue sky.
    If the virus restarts deep manure.
     
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  16. frugal.rock

    frugal.rock

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    All good, I realise that the bun fight isn't over yet..
    Only picked up a small parcel, speculative sized.
    The flexidrill tech I expect to be a good earner.
    Hopefully they get it ready for the pickup, whenever that is...
    Actually made a small profit on a day trade today... not on this one though!
    Cheers.

    F.Rock
     
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  17. Padowan

    Padowan

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    Whilst not to related to any technical based system trade - the depth and breadth of shutdowns in exploration drilling across the mining industry has yet to show its impact on the sector. Preventative measures for cv19 are bringing drilling activities in regional and remote areas to halt and is an overhang on near term earnings, don’t know whether this has been factored in to the current equity rout which seams agnostic to the underlying businesses and more of a sell now ask later phenomenon
     
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  18. frugal.rock

    frugal.rock

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    It's probably a good thing that I jumped off again this morning... had other things to do.
    However, it's had a reasonable day and close?!
    I did check back on it and noticed it was diverging away again from the markets.
    Interesting strong close...

    Line on the chart is about where my trade out concluded... had to chase the price down to complete the trade though. (Note to self, sell on open jackass...)

    Screenshot_20200327-185635.png
     
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  19. finicky

    finicky

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    IMD @ 81c
    Key level to hold is 75c I suspect. An eventual break seems more likely than not to me despite the apparent fundamental strengths of the company - but its a watch and wait
    Reason I am posting on IMD is that I was browsing a pdf of Potters analysts' top picks for 2020 published in Dec 2019. Sort of fun reading it:D One of many picks was Imdex, sorry about the elongated format:
    Hamish Murray
    "Imdex (IMD)
    IMDEX (IMD) is the market leader in
    downhole instrumentation solutions for
    mining exploration and development,
    with sales in 102 countries and the
    presence of an IMD product on ~70%
    of mineral drill sites globally. The
    company has been able to successfully
    leverage its end-to-end product suite,
    portfolio of intellectual property and
    market leading cloud-based platform
    to grow revenues faster than global
    exploration expenditure trends.
    We believe 2020 is positioned to be a
    transformational year for IMD given:
    (1) the company had a record first
    quarter, driven by improving trading
    conditions globally and growing interest
    in its technologies; (2) momentum
    in capital raising, drilling data and
    structural factors such as the gold
    price, continue to point to a positive
    outlook for global exploration spend
    which should provide a tailwind; and,
    (3) material growth opportunities from
    four new technologies that in our view
    are not reflected in the current market
    valuation.
    IMD has a net cash position, which
    provides the ability to increase the
    payout ratio over time and return
    capital to shareholders. We believe
    shareholders are exposed to robust
    FY20e growth in the core business,
    while certainty surrounding the pricing
    models and adoption rates of the
    four emerging technologies presents
    potential for material upside.
    Buy, Target Price $1.62ps
     
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  20. finicky

    finicky

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    Another confirmed trender today in the mining services, on a daily scale anyway ...
    Held

    big (50).gif
     
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