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MDM Mdm Engin.

168.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Mdm Engin. LSE:MDM London Ordinary Share VGG5941V1058 COM SHS USD0.01 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 168.50 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Mdm Engin. Share Discussion Threads

Showing 451 to 472 of 650 messages
Chat Pages: 26  25  24  23  22  21  20  19  18  17  16  15  Older
DateSubjectAuthorDiscuss
13/8/2013
08:16
Sibanye making positive noises about West Rand tailings jv. Surely good news for MDM if proceed towards execution. MDM list it as one of their largest potential projects. Decision in September quarter.

hxxp://www.miningmx.com/page/news/gold_and_silver/1632541-Sibanye-declares-turnaround-strategy-intact

hop53ton
07/8/2013
07:20
Another contract picked up today on the RNS

Project in the DRC





MDM (AIM: MDM) the minerals process and project management company focused on the mining industry, is pleased to announce that it has been awarded the scoping study ("SS") for Kipushi Corporation SPRL ("KICO-SPRL") Kipushi Rehabilitation and Re-development Project in DRC (the "Project").

Ivanplats acquired a 68% share of the Kipushi mine in 2011 and is currently dewatering the mine in order to access the original workings, known as the Fault Ore. In addition, a further deposit, known as Big Zinc, has been identified at a level below the original workings.

KICO-SPRL's imperative is to achieve production as soon as possible from the underground orebody deposit known as the Big Zinc. A mining and business plan for the life of mine will then need be to be developed to confirm a viable business for additional mine refurbishment, development and investment in surface processing capacity and infrastructure. In the mine's 70 years of operation, 60 million tonnes ("Mt") of materials were extracted at a grade of 6.78% copper and 11.03% Zinc. In addition, 0.4 Mt of lead, 45,000 tonnes of cadmium and 120 tonnes of germanium were extracted through the existing processing plant. Currently preliminary metallurgical testwork is taking place at Mintek and a new processing facility may need to be constructed.

MDM has also been requested to include within the scoping study the roaster technology to further refine the product and to investigate concentrate to metal viability.

George Bennett, MDM Executive Director, said:

"In 2012, MDM completed the design and construction of two copper dense-media-separation plants for ENRC in the Katanga Province of the DRC, an area known well to the Company. MDM also has strong zinc experience that includes Zincox Resources' Jabali project, Metorex's Letaba and Miranda zinc plants - designed and built by MDM, and the Skorpion Zinc pre-feasibility study completed for Reunion Mining, all of these projects will bring a large body of knowledge to the Kipushi project. We look forward to building a strong working relationship with Ivanplats."

deanowls
06/8/2013
21:54
Interesting trades today, both size and value.
greenroom78
06/8/2013
15:12
Seller cleared up at 130, market now level to short
exbroker
06/8/2013
10:17
Some chunky trades going through, all at 141p?
martincc
30/7/2013
13:12
Every little helps and it has your foot in the door for contracts further down the line.
deanowls
30/7/2013
07:53
Not a huge amount but every little helps. I would imagine margins are more predictable though (and probably better) compared to developments as they are largely desktop studies.

IMO I should add.

greenroom78
30/7/2013
07:34
Another feasibility study....does anyone know how much these are worth to the company? Thanks
sar10
26/7/2013
18:42
At this valuation and with all that cash in the balance sheet, there might be another offer
jlo10
26/7/2013
18:25
jeffian - I agree, the accounts talking in terms of a strong order book with the "positive trading position" continuing into FY2014 and "looking forward to another sucessful year", do nothing to suggest profits will be considerably less than last year.

I was surprised the broker's forecast wasn't changed much following the results (in fact the FY2014 forecast eps is pretty much what it was 6 months ago). The forecast seemed overly prudent perhaps anticipating a more severe downturn as a result of commodity price falls and perhaps also reflecting what was perceived to be the company's own view at the time of the merger of a retrenchment - as the only explanation for what many of us thought was a ridiculously low-priced offer from Sedgeman.

valhamos
26/7/2013
16:59
I think I'm more confused now than when this conversation started! I hadn't read anything in the last AR which suggested that profits going forward would be significantly lower than last year. Although the additional 'special dividend' suggests something that won't be repeated, the 'underlying' 2013 dividend equates to about 12.3p and as they are targeting divis at 50% EPS, this suggests they can maintain EPS at around 24.5p going forward (i.e. 'flat'). If a company has made an 'exceptional' profit which is unlikely to be repeated (e.g. from the sale of property or a one-off 'completion bonus'), this is usually highlighted in the accounts so as not to distort the figures.
jeffian
26/7/2013
16:08
Here's a bit more from that report. I don't have a link to it online even if I was allowed to post but discusses a few points raised above:


MDM remains well placed as an independent company and even after the final
dividend and special dividends will have net cash of c.45p per share and a
management team committed to actively managing its capital base.
Given we believe that 2012/13 numbers were flattered by a completion bonus, in an
undoubtedly more difficult natural resources investment environment, MDM's
contracted order book which provides significant support to forecasts is a testimony to the strengths of the business and its typically well funded, mid-tier customer base.

We see the opportunity for further completion bonuses in the current order book.
It also has a stronger than average focus towards expansion projects at already (and thus cash generating) sites rather than more capital intensive new build projects with a longer returns horizon.


Shares are trading on post special dividend EV/EBITDA of 3x and underlying yield of 7.4% based on our forecast. P/E of 6.8x also appears undemanding in spite of wider environment and looks to be pricing in slippage we believe the contracted revenue book will prevent happening over our forecast period.

nermil
26/7/2013
16:06
For what it's worth, and not really sure what it means, on p20 of their post-results presentation MDM said that for FY2014 they "expect results to be flat with some upside potential".

hxxp://www.mdm-engineering.com/im/files/p/MDM%20Roadshow_jun13.pdf

hop53ton
26/7/2013
15:53
special dividends are very welcome and we could possibly get another this year.
pyemckay
26/7/2013
15:49
Has the company actually reported that pbt will be lower for 2014? The results read as though they expect growth. From the RNS


Despite the current difficult global economic backdrop in the resources sector, demand for MDM's services remains robust and I am delighted to report that the Company's order book and pipeline continues to look healthy going into FY2014

As of end of last year they has approx 22 million in cash for gods sake, the mcap seems to be devoid of reality!

sar10
26/7/2013
15:34
a forward pe of 8 is undemanding. upgrades possible,
pyemckay
26/7/2013
15:26
EPS for 2012/13 was 37.79c and a dividend of 18.90c (+ a special dividend of 6c). Didn't 2012/13 include invoicing of final amounts for some big contracts.
stemis
26/7/2013
15:12
Re EPS - according to accounts and also Stockopxxia the eps for 2013 was 37 cents - so a forecast of 26 would be a reduction.

Doesn't seem right somewhere

jlo10
26/7/2013
15:12
Yeah I caught that about a minute after I posted that. I edited my original post.
nermil
26/7/2013
15:10
26c is about 17p
pyemckay
26/7/2013
12:51
where did you get that data stemis?

forecasts are flat from what i can see.

cheers

pyemckay
26/7/2013
12:40
Forecast are for a substantial (35%) fall in profits this year. Do we think this is realistic or just over prudent? Chart looks like its heading back down to 95p but I'm no chartist.
stemis
Chat Pages: 26  25  24  23  22  21  20  19  18  17  16  15  Older

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