# SWK - Swick Mining Services



## benwex (7 February 2007)

Hello ASF peeps,

I have been holding this stock for several months now and have found very little information on the company. Does anyone follow this stock or have an opinion??

thanks

Benwex


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## nioka (7 February 2007)

*Re: SWK - Swick Mining*

This is a company which should do well considering the need for the service in the buoyant mining industry. The question in my mind is will it do well for the shareholders or for the Swick family. In this sort of situation the family interests may come first. I'll sit this one out.


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## benwex (29 March 2007)

*Re: SWK - Swick Mining*

And I thought out at 48 there would be an opportunity for a retrace buy in...

The Swick family must be happy.


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## dabbler (8 April 2007)

*Re: SWK - Swick Mining*

More than a 4 bagger in 5 months, everyone is happy......keep going!


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## wildmanchris (1 October 2007)

*Re: SWK - Swick Mining*

Anyone have any thoughts on this share?

Wise Owl has it as a buy, and its just gone into a trading halt.


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## michael_selway (1 October 2007)

*Re: SWK - Swick Mining*



wildmanchris said:


> Anyone have any thoughts on this share?
> 
> Wise Owl has it as a buy, and its just gone into a trading halt.




I have an eye on this oen recently, so aslo will be interested in what the trading halt was for

*Earnings and Dividends Forecast (cents per share) 
2007 2008 2009 2010 
EPS 5.5 8.9 15.3 17.0 
DPS 0.0 0.0 2.0 5.0 *

thx

MS


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## scubasteve (3 October 2007)

*Re: SWK - Swick Mining*

There is a trading stop on SWK and today they are showing as worth $0. Can someone explain to me what will happen next? and when it will happen?

Have I just bottomed out???


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## dubiousinfo (3 October 2007)

*Re: SWK - Swick Mining*



scubasteve said:


> There is a trading stop on SWK and today they are showing as worth $0. Can someone explain to me what will happen next? and when it will happen?
> 
> Have I just bottomed out???




No need to jump out the window just yet.

They have been suspended from trading temporarily at the request of the company pending an announcement.

The management believes they are in discussions that are market sensitive, but they are unable to report those negotiations at present. Under ASX rules, they are required to request a suspension.

This is a regular occurrance in the market.

Once the negotiations are complete, the company will release an announcement and trading will resume.

Could be a couple of days, or a couple of weeks. So just sit tight and relax.


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## scubasteve (3 October 2007)

*Re: SWK - Swick Mining*

Thanks for the info, so it could be good news after all.

The window was open and I was looking down!


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## GTBC (4 November 2007)

*Re: SWK - Swick Mining*

just bought into it.24% growth in 2 weeks with a solid growth on the charts and all the gaps filled, looks promising. I can see it growing to at least a $2.60 stock in the near future.


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## michael_selway (4 November 2007)

*Re: SWK - Swick Mining*



GTBC said:


> just bought into it.24% growth in 2 weeks with a solid growth on the charts and all the gaps filled, looks promising. I can see it growing to at least a $2.60 stock in the near future.




Its pretty good, do you think their drilling business carries alot of risks?

*Earnings and Dividends Forecast (cents per share) 
2007 2008 2009 2010 
EPS 5.5 8.2 15.3 19.8 
DPS 0.0 0.0 2.0 6.0 *

thx

MS


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## simo (28 November 2007)

*SWK. Swick Mining Services... anyone had a look lately*

This company seems to be growing very fast and wonder what the long term forcast for the share price looks like.


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## Just a mum (28 November 2007)

*Re: SWK. Swick Mining Services... anyone had a look lately*

:iagree: Finally someone mentioned Swick on this forum.Was reading about this coy a month ago and had a look at their charts (at Comsec). Looks impressive. Even in the current market they are holding good. I guess their services are in the high demand. From what I understand they provide services to the mining companies as as we all know it's booming. More thoughts on this one?
:70:


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## stellmac (29 November 2007)

Could not agree more with "Just a Mum". If you read the presentation to the AGM on 19 Nov, available from their web site, you will see they are forecasting a doubling of revenue from $40m to $80m, strong Balance Sheet, and excellent flow of work. 

To my mind they are a cheap buy at present...I see them as a sleeper or badly under rated by the market. Consider the recent re rating of Austen Engineering, ANG, by the market. Swick is proably a better bet, in my view, and should go the same way.

Unless of course there is something the market knows that I dont. However I am a long term holder of this share, and builder of my position on any dips, such as the present one. Happy investing...Stellmac


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## michael_selway (29 November 2007)

stellmac said:


> Could not agree more with "Just a Mum". If you read the presentation to the AGM on 19 Nov, available from their web site, you will see they are forecasting a doubling of revenue from $40m to $80m, strong Balance Sheet, and excellent flow of work.
> 
> To my mind they are a cheap buy at present...I see them as a sleeper or badly under rated by the market. Consider the recent re rating of Austen Engineering, ANG, by the market. Swick is proably a better bet, in my view, and should go the same way.
> 
> Unless of course there is something the market knows that I dont. However I am a long term holder of this share, and builder of my position on any dips, such as the present one. Happy investing...Stellmac




Wow not bad!

*Earnings and Dividends Forecast (cents per share) 
2007 2008 2009 2010 
EPS 5.5 8.2 15.9 21.3 
DPS 0.0 0.0 2.0 6.0 *

thx

MS


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## stellmac (29 November 2007)

As my wife says "they are Chinese Greengrocers". 

They manufacture rigs for the booming commodity market and per their presentation I refered to earlier, 25% of revenue is from the Nickel industry related, 25% Copper, 25% Gold, and the other 25% Manganese,Coal, Bauxite , and Lead and Zinc.

They seem to have well designed and innovative rigs, particualrly in Diamond drills. Hope this answers your earlier question Michael. Cheers.. Stellmac


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## austek (3 December 2007)

Read somewhere recently that they designed the fastest drilling rig in the mining business and also use them on mines they own.

So took a position today to get the ball rolling


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## General Grievous (3 December 2007)

austek said:


> Read somewhere recently that they designed the fastest drilling rig in the mining business and also use them on mines they own.
> 
> So took a position today to get the ball rolling




Swick do not own any mines. They have their own rig designs that has won safety awards. They are expanding their fleet rapidly and have a number of new innovations they are trialling, all related to drilling. With increased focus on safety, they should do ok over 12-24mths. Especially with drill rigs hard to come by. Given Boart Longyear has bought out all and sundry it is good that there is an up and comer. If they go international then the sky is the limit although no immediate plans that I know of.


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## austek (3 December 2007)

Thanks for clearing that up, I just hope they do go well.  Big difference between fast drill rigs and safe rigs


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## jeffTH (9 December 2007)

General Grievous said:


> Swick do not own any mines. They have their own rig designs that has won safety awards. They are expanding their fleet rapidly and have a number of new innovations they are trialling, all related to drilling. With increased focus on safety, they should do ok over 12-24mths. Especially with drill rigs hard to come by. Given Boart Longyear has bought out all and sundry it is good that there is an up and comer. If they go international then the sky is the limit although no immediate plans that I know of.




Whilst SWK do not own any mines Cougar Metals CGM list members of the Swick family as substantial shareholders. I suspect that CGM would be under some pressure to use SWK for drilling!

I consider SWK to be a good contender in the short to medium term and a good stablemate for Macmahon MAH.


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## Ashsaege (19 December 2007)

Some great news from SWK today on the ASX announcements!

$55 MILLION REVENUE FROM NEW DRILLING CONTRACTS


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## powerkoala (19 December 2007)

another news comes out.
providing 3 rigs for HEG as well.
nice. 
this is getting better and better.


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## bvbfan (27 December 2007)

CGM own their own rigs in South America and are leasing them out in Brazil.

CGM have some projects in WA where they may need the SWK services.


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## oldblue (30 December 2007)

I 'm impressed by some of the "big Names" that SWK have contracts with and the big chunk of skin that the Swick family still have in the game. Took the plunge and bought in after their recent announcement.


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## Garpal Gumnut (30 December 2007)

I've followed swk since a few articles in the afr this year.
Enclosed is a chart.
Sorry if its a bit crowded.
It goes from nov dec 2006 until now.
The yellow trend line is the only true trend support line I can find that hasn't been violated by price retracements.
I've also done some trend channels.
Many believe in these with great zeal. They are useful.
The initial line I used for these were the recent low and the low in August.
I've also put in a fibonnaci retracement from the recent highs to those lows last year.
I note the price is on the up again but on low volume. So it may retrace.
In a trend channel a stock will often get halfway up or down a channel and then head the other way.
It is interesting that the lowest channel line, that is parallel and equidistant to the initial line will meet the long term trend line aand the 61% fibonnaci retracement quite soon.
Lets hope dubya doesn't choke on a chicken bone, as if he did, Cheney would take over. This might lead to a severe market correction, and this is where I'd buy into swk at about  $1.10.
Conversely if both Cheney and bin Laden both choke on chicken bones watch for swk to track between the extremes of the middle channel whch may provide a 25% profit buying at the low and selling at the high.

gg


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## oldblue (30 December 2007)

Thanks gg.
Forgive my ignorance in these matters, but could you not assert that the August low/recent low trend line has become a new support level?
Could you please also point out the fibonacci retracement which is not apparent to this uninitiated.


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## Garpal Gumnut (31 December 2007)

oldblue said:


> Thanks gg.
> Forgive my ignorance in these matters, but could you not assert that the August low/recent low trend line has become a new support level?
> Could you please also point out the fibonacci retracement which is not apparent to this uninitiated.




Thanks oldblue, the post was done in a hurry as Mrs g was expecting visitors and I had to go to bunnings for bbq fuel. Enough of domestic harmony. You are correct price did tend to tarry at the previous consolidation area and swk found support there, interestingly since its recent high this was a 61% retracement.

Using the august low as a level of support is resasonable and would add more weight to my argument if it retraces.

Google Fibonnaci , son of bonnnaci, a brilliant Italian of long ago after whom these fractions and retracements are named. Ancient Egyptians used the numbers in building the pyramids and if you measure your doorway or monitor and divide length by height you'll probably find a fib ratio pop out of the pen. All to do with numbers which as they increase and divided by their antecedent approach the same number.

The Fib retracement is basically done by drawing a line from a significant low to a significant high and the looking at price as one retraces back at the 23% 38% 50% and 61.8& levels. 

Lines are drawn back across the chart at these levels. Modern charting software does it for you. Amazingly price action can be see to cluster or change at these levels and is presumed to have the potential to do so in the future.

gg


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## oldblue (31 December 2007)

Interesting stuff, gg.
I don't pretend to understand it all but is it significant that the SP has retraced to the 61.8% retracement and to the 38.2% line but has missed the 50% line ( so far)?
O course, if the SP rises above $2-30, the fibonacci retracement lines will need to be re-drawn.
....... and I thought moving averages and heads and shoulders was all there was to Technical Analysis!


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## stoli (13 February 2008)

Have been watching SWK for a few months now.  Has dropped about 10% since start of this month (5% today).  Interested in what others think about this stock and why the sudden drop in share price.

Thanks

Stoli


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## oldblue (14 February 2008)

Yes, its been a bit of a disappointment since I bought in a couple of months ago but then the whole market has taken quite a turn, hasn't it?
At this stage, I'm putting SWK's SP down to market influences and trusting that nothing has changed.


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## oldblue (14 February 2008)

SWK interim result is due out 20 February.

Havn't seen any downgrade so we can assume there won't be any nasty surprises?


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## billybaxter (11 November 2008)

swk sure turned pretty crappy eh?

i bought in at $1.29 a few months ago...there now at $0.45 lol

i dont see a rebound in the near future either


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## oldblue (11 November 2008)

Yes, not a pretty picture but I don't expect SWK SP to perform given the news from miners these days.
Still, a trading update wouldn't go astray. Good news was that director Kent Swick increased his holding by 100k shares last month.


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## oldblue (12 November 2008)

Well, as luck would have it the company obliged with a trading update. Surely, they don't read Aussie Stock Forums?

Current conditions have prompted directors to trim their estimate of FY09 revenue by about 20% but this still represents 49-55% growth on FY08 revenue. Be doing pretty well to achieve this IMO.
New 4 year $48m debt facility obtained from NAB.
Market not impressed and SP marked down another 3.5c to 36.5c Still, it was a pretty tough day all round.


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## derty (12 November 2008)

It's tough times for most mining/exploration services companies at the moment. There are a lot of current and booked drilling programs being cancelled as budgets are slashed and belts tightened. 

Here in Kalgoorlie there are quite a few drill rigs parked up. Drilling companies a calling around looking for work.


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## oldblue (17 June 2009)

Swick in a trading halt.

It looks like a capital raising is on the way. Let's hope that it's not too dilutive, preferably a rights issue at a reasonable discount to the current SP and not a huge giveaway to some hungry underwriter!


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## GumbyLearner (17 June 2009)

oldblue said:


> Swick in a trading halt.
> 
> It looks like a capital raising is on the way. Let's hope that it's not too dilutive, preferably a rights issue at a reasonable discount to the current SP and not a huge giveaway to some hungry underwriter!




Not as large as the one BLY will need! Make's you wonder who will be running all these capital raisings. Plenty of underwriters might be quite tentative at the this stage of the market for sure.


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## oldblue (18 June 2009)

GumbyLearner said:


> Not as large as the one BLY will need! Make's you wonder who will be running all these capital raisings. Plenty of underwriters might be quite tentative at the this stage of the market for sure.




Underwriters have done very well out of the spate of issues so far.
I would expect that to continue but of course they may tighten the terms and increase their fees if the market turns against them. Smaller companies like SWK may have to pay a bit over the odds.


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## oldblue (22 June 2009)

SWK expects to make an announcement this afternoon.

Meanwhile, the Trading Halt has run its course and the shares are suspended pending the announcement.


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## oldblue (22 June 2009)

SWK announcement made of $8.2m placement and $6.3m pro rata non renounceable entitlement issue underwritten by Euroz Securities.
Issue 1 for 10 at 36c, Record Date 1 July.
Funds will be used "to strengthen the balance sheet, maintain North American market push and support Australian growth opportunites."
The company has a record number of rigs in work - 43 out of 51. Utilisation has improved gradually since January. 

The shares are back trading - up 2c at 45c.


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## oldblue (20 August 2009)

SWK's SP is doing nicely - up to 68.5c today on news of another North American drilling job, their third since commencing business there.

Anyone else with an interest in this company?


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## Riddick (20 August 2009)

definitely interested in this stock. have been following it for some time and like the direction.  seems to have a pretty high P/E but still way below its 52 week high. I am certainly contemplating a move in this direction sooner rather than later. don't hold any at the moment but hold a close competitor.
all my research indicated positive sentiment.
I'm know I'm not giving you much info but fundamentals look sound.


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## stretchie (8 September 2009)

Hey all

I waited until the clear break above 45c on high volume (bought in avg price 52.5c) and it quickly went to 70c before retracing a little. It was up again today though and looks to be leveraged exposure to the recovery if you believe in it. 

Personally I don't really believe in the recovery but if the director is buying more shares, the company represents good value, and is raising capital to expand the business rather than pay off debt like BLY (why I bought shares in them I'll never know), then I'm in for a couple thousand of them.

I bought BLY just as they broke resistance around 44c but then they went into a trading halt a few days later and subsequently tanked thereafter. You win some you lose some I guess!


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## oldblue (9 September 2009)

SWK's recent announcement of a third North American drilling trial is a promising development. Worth remembering that SWK have a good record of converting trials to contracts.
Directors, particularly Swick family members have been steadily adding to their holdings for several months now. One of the better indicators of future performance, in my experience.


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## tarbaby (16 April 2010)

Looks like there is some activity going on at Swick. SP is still low at 0.46, but the volume is interesting. On any given day over the past few months, about 200 thou shares trade. Over the last couple of weeks however, there have been 10 times that volume shifting. At least one of those sales has been directors buying up.

I dont understand how there can be so much volume trading without an accompanying change in share price. Sure, on some days the SP has moved */- 6%, but overall, the price has only moved from 0.40 to 0.46, and to me, given the volume, that is negligible.

I always thought that volume was a good indicator, a portent of things to come. Am I wrong? Does the recent trading at SWK merely represent one insto getting out, another buying in?  Or will the SP take off in the next few weeks?


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## oldblue (16 April 2010)

I havn't analysed recent SWK market volumes but seem to remember that the company made a placement of shares at 40c recently to parties including certain directors. Might be worth checking to see if some of these have been "re-cycled" back into the market.


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## tarbaby (16 April 2010)

Where can I find details about substantial trading activity?

I did some searching using Etrade and the ASX site, but could not find much of interest. Is there some other site which publishes trade information? Is it a free site of does it cost $$$?

I found out that one of the directors, K J Swick bought 1,008,080 shares on 14 April, which accounts for about 40% of the 2.7 mil trades yesterday.

Another 2.7 mil shares traded on 12 April, and I think that might be UBS buying in.

So it could be just shuffling shares between directors, with a bit of institutional buy-in.


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## oldblue (16 April 2010)

Hi, tarbaby.

You're on the right track in checking the SWK page on ASX but remember that you'll only get notifications of director dealings and substantial shareholder (defined as 5% of issued capital) movements. Anyone buying or selling below this threshold won't be notified but could still be significant, eg 4.95% of SWK would still be a big number!

Cheers


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## Wysiwyg (16 April 2010)

tarbaby said:


> I dont understand how there can be so much volume trading without an accompanying change in share price. Sure, on some days the SP has moved */- 6%, but overall, the price has only moved from 0.40 to 0.46, and to me, given the volume, that is negligible.




I have been in and out in that price range. Won't be stuffed around with concrete resistance anymore. Alright if you want to play games and have time to kill. Another strange one.


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## Miner (17 April 2010)

oldblue said:


> Hi, tarbaby.
> 
> You're on the right track in checking the SWK page on ASX but remember that you'll only get notifications of director dealings and substantial shareholder (defined as 5% of issued capital) movements. Anyone buying or selling below this threshold won't be notified but could still be significant, eg 4.95% of SWK would still be a big number!
> 
> Cheers




Old Blue

I believe any transaction by a director irrespective of its holding is reportable in ASX.

For example even when the directors get dividends converted into shares are reported.

The options lapsed by the directors are reported

Any dilution in their holding due to their no sale or buy but purely from the issue of capital to sophisticated investors are also reported

Cheers


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## Miner (17 April 2010)

tarbaby said:


> Where can I find details about substantial trading activity?
> 
> I did some searching using Etrade and the ASX site, but could not find much of interest. Is there some other site which publishes trade information? Is it a free site of does it cost $$$?
> 
> ...




KJ Swick is the principal holder and the company is named after his surname.

There are some mobs like Keith Wilson who report the directors transactions in their insider traders magazine/ website but it is a paid subscription. They also do not provide full description.

THe best way will be to view on a daily basis on ASX on the company of your choice.


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## oldblue (17 April 2010)

Miner said:


> Old Blue
> 
> I believe any transaction by a director irrespective of its holding is reportable in ASX.
> 
> ...




Exactly.

The 5% threshold relates to the "substantial shareholder" definition.

All changes to directors' holdings have to be reported including, as you note, reinvestment of dividends, take up/lapses of options etc.


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## Castle of Sell (27 February 2015)

Down to 17.5c, yet NTA of ~ 45c. 
Positive comparisons on this time last year, and prospects look reasonable with solid pipeline and diversifciation overseas, yet the stock continues to drop.

Anyone have any thoughts on this stock?


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## Porper (28 February 2015)

Castle of Sell said:


> Down to 17.5c, yet NTA of ~ 45c.
> Positive comparisons on this time last year, and prospects look reasonable with solid pipeline and diversifciation overseas, yet the stock continues to drop.
> 
> Anyone have any thoughts on this stock?




Technically it's a dog. No volume, steep downtrend, just broken through minor support. Hard to find a worse stock on the ASX as of now. 10 foot and barge pole comes to mind. There are lots of strong trending stocks around now...smaller cap stocks participating in the recovery of the broader market meaning lots of opportunities.


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## Miner (28 February 2015)

It is joyful that since 2010, there were two posts on SWK .
I have been following SWK and even if the report on 27 Feb sounds rosy I will be cautious.
Net debt has gone up 149%  .
Why there is no illumination on this. Cash has gone down by 45% and cash in hand is only $11 M


DYOR 

Do not hold


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## Ann (2 May 2019)

Up 10% today...

*Cost re-focus results in strong quarterly performance for Swick Mining Services*
_
Western Australia-based contractor Swick Mining Services (ASX: SWK) has followed up its December performance with strong unaudited results for the first three months of 2019, driven by a strategy of re-setting market rates and targeting lower operating costs. 

The company’s drilling business posted a 58% increase in earnings before interest, tax, depreciation and amortisation (EBITDA) of $7.3 million from $4.6 million in the previous corresponding period.


Revenue for the business was also up on the previous period by 7%, from $32.9 million to $35.1 million


At a group level, Swick reported a consolidated EBITDA of $6.4 million (unaudited) – up 58% from $4 million in the previous corresponding period – and an EBIT of $1.2 million (unaudited), up from a small loss.


Cash from operations for the period was $7 million – up 77% increase on the previous period and representing a 110% conversion of EBITDA to cash at the group level. More..._


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## Miner (2 May 2019)

Ann said:


> Up 10% today...
> 
> *Cost re-focus results in strong quarterly performance for Swick Mining Services*
> _
> ...



It looks like SWK thread is an orphan. General frequency of posting is 5 years. 
I posted in 2015. Prior to that in 2010 there was a posting. Now in 2019 a posting came from @Ann . So next one on this thread will be in 2024


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## Smurf1976 (8 May 2019)

Miner said:


> It looks like SWK thread is an orphan. General frequency of posting is 5 years.
> I posted in 2015. Prior to that in 2010 there was a posting. Now in 2019 a posting came from @Ann . So next one on this thread will be in 2024



That the stock price has gone essentially sideways for 10 years does make it a less than exciting stock.


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## Chief_Wigam (9 February 2020)

This stock was a permanent recommendation from the Trident report and I've been holding for about 6+ years. Who else covers the stock?


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## greggles (12 October 2021)

DDH1 Limited to acquire Swick Mining Services Ltd for $115 million enterprise value, representing equity value of 35c per share. Swick shareholders will also receive Orexplore shares under the proposed ($12 million seed funded) Orexplore demerger.

SWK hasn't traded over 35c since 2013, and has never been a stellar performer as a listed entity, so this deal is probably a reasonable one for SWK shareholders. Although it is worth noting that it is a scrip transaction, not cash. SWK shareholders wil receive 0.2970 DDH1 shares for each Swick share they hold.


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## Miner (12 October 2021)

greggles said:


> DDH1 Limited to acquire Swick Mining Services Ltd for $115 million enterprise value, representing equity value of 35c per share. Swick shareholders will also receive Orexplore shares under the proposed ($12 million seed funded) Orexplore demerger.
> 
> SWK hasn't traded over 35c since 2013, and has never been a stellar performer as a listed entity, so this deal is probably a reasonable one for SWK shareholders. Although it is worth noting that it is a scrip transaction, not cash. SWK shareholders wil receive 0.2970 DDH1 shares for each Swick share they hold.



Good time for the original promoter to move on after years of hard work to get SWK today's situation.


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## System (18 February 2022)

On February 17th, 2022, Swick Mining Services Limited (SWK) was removed from the ASX's Official List in accordance with Listing Rule 17.11, following implementation of the scheme of arrangement between SWK and its shareholders in connection with the acquisition of all the issued capital in SWK by DDH1 Limited.


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