Mitchell Services Ltd

Mitchell Services 1H26: NPAT $8.1m, EBITDA $21.4m (up 69%), net cash $7.2m; Sumitomo to acquire up to 25% of Loop Decarbonisation; 4c dividend.

Pickaxe sellers, a legendary and largely extinct species, were once described as the major money-makers in mining, a title transferred in part to a new breed of hole diggers, companies selling drilling services. The modern way of punching through the earth’s surface is essentially the same as a man with a pickaxe and shovel, only […]

At a time of bumper dividend payouts from the likes of Rio Tinto (ASX: RIO) and – presumably – BHP (ASX: BHP), most investors seeking a resources exposure would be happy to invest directly in the major producers. Of course, the history of resources is also about endless boom-and-bust cycles – and if history doesn’t […]

Mitchell Services (ASX: MSV) will acquire privately-owned Deepcore Holdings Pty Ltd for $32 million under a binding agreement announced this morning, with Mitchell claiming the combined entity will be one of the largest pure play drilling service companies in the country. In consideration for the acquisition, Mitchell will pay $15 million in cash and issue […]