Looking for No-Brainers in the Micro-Cap Space, The Mikro Kap

The Mikro Kap

Looking for No-Brainers in the Micro-Cap Space

Private investor from Croatia focused on finding no-brainer opportunities in the global micro-cap space

Equity Bottom-Up

<ul><li>It’s not ground breaking but it does feature a company that is breaking ground.</li><li>Just this morning, I spoke with Mitchell Services' CEO, Andrew Elf, and CFO, Greg Switala.</li><li>This is going to be a quick update covering ten of the most important highlights from the call, with some discussion about $MSV.</li></ul>

It’s not ground breaking but it does feature a company that is breaking ground.Just this morning, I spoke with Mitchell Services' CEO, Andrew Elf, and CFO, Greg Switala.This is going to be a quick update covering ten of the most important highlights from the call, with some discussion about $MSV.

<ul><li>This is a drill. A drilling services company.</li><li>Only 2 weeks ago, I would have told you that an Australian drilling micro-cap was something that tops the list of companies I'd never dare to invest in.</li><li>But it appears that desperate times call for desperate measures, and I did exactly that.</li></ul>

This is a drill. A drilling services company.Only 2 weeks ago, I would have told you that an Australian drilling micro-cap was something that tops the list of companies I'd never dare to invest in.But it appears that desperate times call for desperate measures, and I did exactly that.

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

<ul><li>Mitchell Services has experienced revenue growth through acquisitions and share offerings</li><li>The company is concentrating on returning earnings to shareholders via share buybacks and dividends</li><li>MSV has a diversified revenue stream from gold, coking coal, and various metals, targeting stable growth in the Australian market with a estimated FY24 FCF yield of 22%</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.</em></p>

Mitchell Services has experienced revenue growth through acquisitions and share offeringsThe company is concentrating on returning earnings to shareholders via share buybacks and dividendsMSV has a diversified revenue stream from gold, coking coal, and various metals, targeting stable growth in the Australian market with a estimated FY24 FCF yield of 22%This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Mitchell Services Ltd (MSV:ASX) - Sunday, May 19, 2024

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ddh1-ltd" target="_blank" data-smartkarma-citation="entities:36022:1" rel="noopener">DDH1 (DDH AU)</a>'s IE considers <a href="https://www.smartkarma.com/entities/perenti-global-ltd" target="_blank" data-smartkarma-citation="entities:20505:1" rel="noopener">Perenti Global (PRN AU)</a>’s A$0.1238 cash plus 0.7111 PRN shares for each DDH share offer fair and reasonable. </li>
<li>The offer requires DDH1 shareholder approval. Shareholders representing 38.0% of outstanding shares will vote in favour of the scheme.</li>
<li>The low spread points to a done deal. At the last close price and for the 6 October payment, the gross and annualised spread is 1.5% and 10.8%, respectively.</li>
</ul>



DDH1 (DDH AU)'s IE considers Perenti Global (PRN AU)’s A$0.1238 cash plus 0.7111 PRN shares for each DDH share offer fair and reasonable. 
The offer requires DDH1 shareholder approval. Shareholders representing 38.0% of outstanding shares will vote in favour of the scheme.
The low spread points to a done deal. At the last close price and for the 6 October payment, the gross and annualised spread is 1.5% and 10.8%, respectively.


DDH1 (DDH AU): Scheme Meeting on 18 September

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ddh1-ltd" target="_blank" data-smartkarma-citation="entities:36022:1" rel="noopener">DDH1 (DDH AU)</a> has entered a SID with <a href="https://www.smartkarma.com/entities/perenti-global-ltd" target="_blank" data-smartkarma-citation="entities:20505:1" rel="noopener">Perenti Global (PRN AU)</a> at A$0.1238 cash plus 0.7111 PRN shares for each DDH share, a 17.4% premium to DDH’s 5-day VWAP.</li>
<li>The key conditions are shareholder scheme approval and ACCC clearance. Shareholders representing 38.0% of outstanding shares will vote in favour of the scheme.</li>
<li>The offer is attractive compared to peer multiples, and the net exchange ratio is fair on a 1-year basis. A critical risk is volatility risk around PRN shares.  </li>
</ul>



DDH1 (DDH AU) has entered a SID with Perenti Global (PRN AU) at A$0.1238 cash plus 0.7111 PRN shares for each DDH share, a 17.4% premium to DDH’s 5-day VWAP.
The key conditions are shareholder scheme approval and ACCC clearance. Shareholders representing 38.0% of outstanding shares will vote in favour of the scheme.
The offer is attractive compared to peer multiples, and the net exchange ratio is fair on a 1-year basis. A critical risk is volatility risk around PRN shares.  


DDH1 (DDH AU): Binding Offer from Perenti (PRN AU)

Australia

Mitchell Services Limited provides contract drilling services for the coal and coal seam gas sectors. The Company currently operates drill rigs in Queensland, the Northern Territory, South Australia and Papua New Guinea.

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Mitchell Services (MSV AU)

Groundbreaking Research

It’s not ground breaking but it does feature a company that is breaking ground. Just this morning, I spoke with Mitchell Services' CEO, Andrew...

The Mikro Kap

This Is Not a Drill

This is a drill. A drilling services company. Only 2 weeks ago, I would have told you that an Australian drilling micro-cap was something that tops...

The Mikro Kap

Mitchell Services Ltd (MSV:ASX) - Sunday, May 19, 2024

MSV has a diversified revenue stream from gold, coking coal, and various metals, targeting stable growth in the Australian market with a estimated...

Value Investors Club (VIC)

DDH1 (DDH AU): Scheme Meeting on 18 September

The low spread points to a done deal. At the last close price and for the 6 October payment, the gross and annualised spread is 1.5% and 10.8%,...

Arun George

DDH1 (DDH AU): Binding Offer from Perenti (PRN AU)

The offer is attractive compared to peer multiples, and the net exchange ratio is fair on a 1-year basis. A critical risk is volatility risk around...

Arun George

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