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HDX 16.5¢

Ann: Trading Halt

  1. ASX News

    100,298 posts.
    • Release Date: 16/08/13 08:59
    • Summary: Trading Halt
    • Price Sensitive: Yes
    • Download Document
  2. vfrioni

    1,044 posts.

    Hmmm, another acquisition and capital raise by the looks??? I don't see how they could do a material acquisition without a cap raise considering their cash balance. Anyone with some insight here? Still holding a few.

  3. Can't add much - I'm ok with a cap raising in principal but let's see what the acquisition is. June FY Report would be nice as well.
    As an aside, when I opened the PDF from the ASX site I saw the filename includes 'Life Therapeutics Limited'. Is this just the ASX being lazy with filenames or what?
    Sentiment changed to Hold due to uncertainty from the announcement - otherwise I'm a LT Buy.

  4. MYG is also in a trading halt and previously flagged they are looking at a contractor providing funding for their mine development and the contractor getting the job to actually build the mine. I'm sure it's alot more complex than this obviously...

    Could this be the tie up?

  5. A closer look and HDX is really only involved in drilling and more specifically coal. Perhaps not linked or maybe something out of the box?

  6. Corporate

    2,666 posts.

    Well this is an interesting development. I hope they aren't issuing more shares. I'm very much in the red already with HDX

  7. Angus

    2,218 posts.

    I guess there are three main elements of their business:

    The Australian drilling operations - could they be acquiring a smaller rival to gain market share, particularly in NSW? They would probably only do that if the rivals existing contracts were good and arrangements had been tied up with the coal mines in which they are operating. Another more left-field possibility is acquiring a similar drilling operation overseas that has contracts with clients that HDX have relationships with.

    The Reichdrill business - could there be looking at expanding this by acquiring a similar business (in the US?) that could complement Reichdrill?

    The Hydraulics business - again possibly a rival or complementary business to expand the reach or operations of this?

    There are other possibilities, but these are perhaps the most obvious.


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