RE:1/2 a $1 buck and moving upHi John,
Good timing in picking some at the .50 .55 level. 25 million market cap. Could not add, fully loaded but seems to me like a pretty decent punt on a cyclical if one believes (like i do) that we are in the first innings.
There will not be any news until september as they are on a June year end in the mean time, MDI was quite bullish (and insiders are buying), but they only reported until April 30. Foraco reported June number with an increase in the teens for their North American operations but mentionned that they had labor issues. Pretty good increase in Latam.
Overseas opersations have been a drag on OGD profitability. But if Latam picks up (they have an important contract) and West Africa performs (Guinean contract should be full steam now), we could have a very good suprised and a complete reversal as typically, oversea contracts have better margins. GEO will report next monday, this should give us a pretty good idea for West Africa. But so far, they have been quite bullish. And Capital CEO, another african centric driller (a steal on the LSE with Chrysos) just mentionned a couple of weeks ago ”We are currently seeing the strongest demand since the Company's inception, in contrast to the recent perception from global equity markets.”
GLTA