RE: RE: To aminvestor:Ingiboy Thanks for your remarks, much appreciated
We are all her to learn, get informed, challenge others and be challenge for the ultimate acquiring of knowledge so we can do well. I am a recent member as well as “aminvestor” correctly pointed out.
Here is the problem with TID that people like “aminvestor” are deluded about.
It is a takeover target. I say no it is not. Who would want debt laden, diluted, tiny cap company?
It was wrong for management to buy 30 year old rigs from Drillfor for 62m including the 10m needed for refurbishment.
Book value is not a silver bullet value metric as it can also indicate problems. In TID’s case which one is it: a harbinger of a latten problems or indication of undervalue when trading 70% discount of its book value of 1.05?
Past success is not sure asset for future success as past success can erode you of your humility. Successful companies hire failed CEOs and people who were fired for a reason. Therefore for us to count on Dawson’s past wild success borders on naivety.
It was wrong to buy Caroil at the expense of almost 50% dilution. The rigs are not new. The reason TID under Dawson and friends was destined to succeed was their penchant for recognizing the opportunities in SA. Mind you drilling is a commodity, tech is there but SA was plagued with ancient rigs. So TID set out to change that by providing to that niche. They digressed when they bought Drilfor and Caroil. Bad move. These truths are self-evident to the chagrin of our friend “aminvestor”
Ingiboy, what makes you think TID will fly with the clipped wings it got?
Welcome again sir.
Thanks
totid