Imdex Ltd (IMD)

Discussion in 'Stocks & Derivatives' started by finicky, Sep 22, 2012.

  1. finicky

    finicky Well-Known Member Silver Stacker

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    Fell to 60c. Chart not looking good from my average buy-in, but is making a good impression of kicking on from a bottom for anyone looking at it freshly.
    making a short term higher high, breaking above recent ~80c resistance

    [​IMG]
     
  2. finicky

    finicky Well-Known Member Silver Stacker

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    Imdex still has 121m remaining shares left in SEH after this $24m transaction

    http://www.finnewsnetwork.com.au/archives/finance_news_network24654.html

    Imdex sells Sino shares for $24M September 13, 2013 10:27 AM

    Imdex Limited (ASX:IMD) has sold 130 million shares in Sino Gas & Energy Holdings Limited (ASX:SEH) for just over $24 million.

    The shares were sold via a bookbuild to institutional and sophisticated investors at a price of 18.5 cents per share.

    Imdex is a founding shareholder in Sino and recognises it is developing a world scale gas project in China.

    The company says it has no intention to sell the remainder of its shareholding, which represents a 9.7 per cent interest in Sino.

    The proceeds will put Imdex in a stronger cash position and allow it to pursue a number of growth opportunities.

    Imdex generated a net profit of $19.4 million for fiscal 2013.
     
  3. finicky

    finicky Well-Known Member Silver Stacker

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    A few videos of some of the company's products: Reflex Instruments, AMC drilling fluids, Solids Removal Units. Bit boring really as they are instructional vids for the clients it looks

    [youtube]http://www.youtube.com/watch?v=YnUGJ4vu3Kw[/youtube]


    [youtube]http://www.youtube.com/watch?v=G31CSsJEkeQ[/youtube]


    [youtube]http://www.youtube.com/watch?v=AHVkqKjWi2E[/youtube]
     
  4. finicky

    finicky Well-Known Member Silver Stacker

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    Could be heading for 25c! I'm already down 60 grand and it isn't even my money really (fmly p/f). What a frkg idjut.

    No-one looking at 'technicals' will be buying this chart, that is for sure.

    A chart falling as precipitously as Imdex will often go as far as a long term level of resistance and support. The only such level fitting this description for Imdex is the global financial crisis level of 25c in 2009.

    The 50c level also has a much less significant claim.

    Some stocks of companies in the mining services sector that have already returned to GFC levels, or even lower, have codes SDM, GCS, COF, MAH, EHL, FWD, DOW, UGL, WDS, BYL, ASL, BOL

    There is a long term shallow rising trendline that can be drawn for Imdex. It starts right back in 2003 and price has rebounded from it 3 times: 2003, 2004, and 2009. That trendline is currently at ~37c

    The current drop has been worse than GFC arithmetically but not proportionately

    The GFC arithmetic drop was
    2.75 - 0.25 = 2.50
    2.50 / 2.75 x 100 = 91%

    Current drop is
    3.25 - 0.50 = 2.75
    2.75 / 3.25 x 100 = 85%

    For current drop to be proportionate to GFC drop
    Price would drop 91% from high of 3.25
    3.25 x 91% = 2.96
    3.25 - 2.96 = 0.29 = 29c target

    DECADE MONTHLY IMD
    [​IMG]
     
  5. MyNamesNotBen

    MyNamesNotBen New Member

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    Ahh hindsight..I love reading back through threads like this. Its appreciated how you take the time to add details from reports and pictures of the chart, Finicky.

    My sides :lol:
     
  6. finicky

    finicky Well-Known Member Silver Stacker

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    Wonder if 50c will hold. Teetering on the edge with just a flirtation below so far.

    A new substantial share holder - investment advisory service based in Dallas Texas. Looks like they've been accumulating for a while, with their buy range being from $3.18 - 48c and the highest consideration over the last 4 months being 88c.

    Date range of purchases: December 2010 - 11 December 2013. Probably still buying.

    Texas based - wonder if that comes out of some acquaintance with Imdex's oil & gas division business.

    http://stocknessmonster.com/news-item?S=IMD&E=ASX&N=661685

    Braeside Investments
    Overview
    Braeside Investments, Llc is a financial investment advisory firm headquartered in Dallas, Texas. The firm manages 6 accounts totaling an estimated $265 Million of assets under management.

    http://investment-advisors.findthebest.com/l/35764/Braeside-Investments-Llc
     
  7. finicky

    finicky Well-Known Member Silver Stacker

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    Strange committed buying. Expecting Dec HY results 18-20th Feb. Yesterday was .45% down on materials index but Imdex was up. Today up again significantly with gap. The M.D is quite communicative type - well he answered an email from me some time back - and there are boutique funds in IMD; they are always trying to weasel info out of their companies. Volume not great but is higher on both up days.

    DAILY 6 MTHS
    [​IMG]


    MONTHLY
    [imgz=http://forums.silverstackers.com/uploads/1893_imd_mthly_jan_31.gif][​IMG][/imgz]
     
  8. finicky

    finicky Well-Known Member Silver Stacker

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    Added another 5000 @ 0.575
    Definitely not a recco. This has entered into the speculative rather than the investment side.
    A lot of their business stems from servicing gold drillers after all - for a goldbug with a bit of optimism returning.
    Share price weathered the H1 report quite well, and I quite like the look of it daily and short term.
    Note the volume today - that's what tipped me into a chart punt.
    Skaffold says this is worth zero now based on FY14 projected earnings. Eight analysts inputting. Thanks a lot Skaffold - you've been a real boon assessing this stock, and so many others. Subscription renewal comes up on Thursday

    [​IMG]
     
  9. finicky

    finicky Well-Known Member Silver Stacker

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    Weekly Chart:
    Positive divergence from the momentum indicators across June '13 - Dec '14.
    Weathered it's poor underlying H1 report (Feb 17th), plus an asbestos scare from a drilling mud product that it supplied to Origin Energy (March 13th). Hardly a market price hiccup from those.
    Rising trend of weekly volume on a gently rising price. Healthy little chubby candles.
    What more could a holder want? Double the current price to break even is about all :|


    2 YEAR WEEKLY CHART
    [​IMG]
     
  10. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Nothing to see here. :)
     
  11. finicky

    finicky Well-Known Member Silver Stacker

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    hmm ...
     
  12. wrcmad

    wrcmad Well-Known Member Silver Stacker

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  13. finicky

    finicky Well-Known Member Silver Stacker

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    As The Australian article asks - green shoots showing in the drilling business?

    I've been taking a little heart from the chart of Imdex lately but haven't had any context for it. The M.D of Imdex often says patience is required, the cycle will turn.
    The charts below were the first three I looked at: IMD, BLY, and ASL. All these drilling related stocks are showing recent positive volume surges and narrowed volatility


    Mitchell returns to pounce on 'cheap assets'
    THE AUSTRALIAN AUGUST 25, 2014

    "QUEENSLAND'S wealthy Mitchell family is returning to the local resources drilling sector where it made its fortune in the belief the industry has turned and it is time to snap up cheap assets.

    Nathan Mitchell says the family exited at the top when it sold the 39-year-old Mitchell Drilling to AJ Lucas in 2008 for $150 million, and it is now getting back in at the bottom. And they are being backed by some other big names.

    Robert Millner's Washington H Soul Pattinson is a major shareholder in the recently listed Mitchell Services, while the nation's biggest listed fund, Australian Foundation Investment Co, and private equity firm Ironbridge are understood to be part of a $20.2m capital raising announced last week to acquire Tom Browne Drilling Services from receivers.

    "If six o'clock is the bottom of the market, we're probably at seven o'clock," Mr Mitchell told The Australian. "It's not booming but I think we're coming out of it, we are seeing an improvement in tendering and requests for rigs so green shoots."

    The drilling sector has been one of the hardest hit by the mining downturn. Not only has exploration spending dried up, but the big miners have all been on productivity drives, with squeezing contractors high on their list of cost-saving initiatives.

    But there is a growing feeling it could be time to start getting back in, evidenced last month when private equity buyout firm -Centerbridge Partners took a 13 per cent stake in embattled driller Boart Longyear ..................................

    ............... Mr Mitchell said the major opportunities he saw were in coal and precious metals.

    "The minerals industry has been down for a while and our feeling is it is starting to come back," he said.

    "The renewed activity is coming from both the tier-one miners and some of the juniors, so it's good to see a 50-50 mix.""

    Imdex IMD weekly
    [imgz=http://forums.silverstackers.com/uploads/1893_imd_wkly_aug_2014.gif][​IMG][/imgz]

    Boart BLY weekly
    [imgz=http://forums.silverstackers.com/uploads/1893_bly_wkly_aug_2014.gif][​IMG][/imgz]

    Ausdrill ASL weekly
    [imgz=http://forums.silverstackers.com/uploads/1893_asl_wkly_aug_2014.gif][​IMG][/imgz]

    Disclosure: Holding IMD at a loss
    Sentiment: Just to say that few of my ideas have been worth acting on, they're entertainment, and these sort of stocks are super treacherous for newbies.
     
  14. finicky

    finicky Well-Known Member Silver Stacker

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    Looking good. I'm optimistic of break of 0.77 within week or two, maybe earlier, then eventually 0.90
    Note symmetry of fold out of bowl with axis start July. Bowl is 50% retracement of DEcember to May rally
    Volume has become in favour of buyers this month
    I guess fallback to 0.60 is alternative prospect, but I feel much less likely

    From another angle, for what it's worth, Clime Asset Managements valuation tool has fair value at 0.93
    Imdex reviewed and revalued by them 25-Aug-2014, a week after Imdex released full year results.
    Free Trial:
    http://www.stocksinvalue.com.au/trial-stocksinvalue-standard/

    Disclosure: Holds
    Sentiment: Hold, risky speculative, not the best buy on the market

    DAILY Chart
    [​IMG]
     

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