Hi hanabi .. Firstly I don’t understand the detail of financials...

Hi hanabi .. Firstly I don’t understand the detail of financials and I don’t know how Barminco is going financially as I haven’t looked at that.

I bought because Regal announced it was decreasing its position early in November ( I watched it short PLS from around 55c to 37c a while back,)
because Fidelity announced an increased position on November 23
And because IOOF increased on December 3
..And because nearly 18.5 million were traded three days ago.
...And because I have confidence in @Saragian’s technical analysis
....(And because I have a modicum of familiarity with the company.)
....(And because I thought maybe this is a good price.)

As far as the funds go, these are uncertain times.
I bekieve they (not Regal) are looking for ‘safe haven’ stocks.
If they like Ausdrill enough to increase holdings they must feel comfortable with company future and current prices ?
(Unless they intend to short it too?)

As far as the Technical Analysis goes I feel it is likely Saragian called the same scenario as the best of the institutions’ analysts.
I have long acquaintance with the high calibre of his work from a long term association at one company and through ‘following ‘ his charts elsewhere.



Beyond this, I am fairly certain the ‘equity accounted investment’ came from ASL’s 50/50 JV in AUMS which it seems to think has plenty of potential to continue to grow.


Cheers




http://www.ausdrill.com.au/files/2018_Ausdrill_Investor_Presentation.pdf
Page 8:
“African Underground Mining Services (AUMS) contributed equity accounted net profit after tax of $22.3 million (FY17:
$13.1 million), an increase of 70.7%

- Exceptional revenue and profit growth driven by the Subika project for Newmont in Ghana and additional works at the Geita project for AngloGold Ashanti in Tanzania

-New work secured at Siou for SEMAFO and at Bagassi South for Roxgold in Burkina Faso. Works at Bagassi South have commenced, with Siou expected to commence in Q3 2018

-AUMS, through its 70/30 JV with Rocksure International (a Ghanaian mining contractor), is preferred contractor for delivery of underground mining services at AngloGold Ashanti’s Obuasi project in Ghana. Negotiation of the final contract terms and conditions are well advanced with an expectation that project works will commence later in 2018. The joint venture has been incorporated in Ghana and will trade under the name Underground Mining Alliance Limited

+Return on average capital employed1 improved from 35.9% to 48.5% on a comparative period basis  The project pipeline offers strong growth opportunities beyond FY19”