Company updates
Through solid operational cashflow generation of $117.9m and restrictions on capital expenditure, Ausdrill has been able to make secured debt repayments of ~$100m over FY15 in a challenging mining services market. The large reduction in secured debt improves the expected recovery position on Ausdrill’s unsecured bonds
Company updates
After a spate of earnings downgrades, do Ausdrill’s two recent contract wins suggest the company is turning things around?
Company updates
The company will provide open pit mining services to Perseus Mining at one of its mines (Edikan) in Ghana
Week in review
RBA keeps rates unchanged at 2.25%; Yellen’s testimony; G8 FRN becomes a retail DirectBond; Sotheby’s added as a new USD DirectBond (wholesale investors only); plus a host of results updates from the final week of the Australian reporting season (360 Capital, Ausdrill, AXA, Emeco, NEXTDC, PMP, Sydney Airport and Transfield)
Company updates
For an investor with a high risk/reward appetite, and willing to bank on a mining sector recovery pre 2020, Ausdrill may provide a speculative buying opportunity with the very high yield on offer
Company research
Ausdrill Limited (Ausdrill) is a leading provider of mining services in Australian and African mines. It is one of the largest listed mining services companies on the Australian Securities Exchange