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At last! http://www.asx.com.au/asx/statistics/displ...;idsId=01556646

Ron Sayers can again focus on his job. Officious officials :grrr:

 

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Here's hoping that the Market sees it as a positive and turns back into a Northerly direction.

I've set my review alert at 98c. Not holding any just yet.

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  • 7 months later...
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  • 2 years later...

Up 5.36% on this news -

AUSDRILL RECEIVES LETTER OF INTENT FOR NEW CONTRACT AT WODGINA

Diversified mining services company Ausdrill Limited (ASX: ASL) is pleased to

announce that it has received a letter of intent for a new three-year contract with

Process Minerals International Pty Ltd (PMI), a subsidiary of Mineral Resources

Limited, at its Wodgina lithium mine, located in the Pilbara region of Western Australia.

Final award is subject to finalisation of contract terms and conditions, and the execution

of the contract.

 

The contract is expected to generate revenue of approximately $180 million over the

three-year term. Ausdrill will provide drill and blast services at the Wodgina project,

using 29 drill rigs and 150 personnel on site.

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  • 4 weeks later...

SP up 7.92% today following release of 1H FY18 results

Overview

â–  All key safety indicators improved during the period

â–  Sales revenue of $439.7 million, up 17.9%

â–  Profit from continuing operations of $35.3 million, up

163.5%

â–  Basic earnings per share 10.31 cents per share, up 140.3%

â–  Fully franked interim dividend of 3.5 cents per share

declared

â–  More than $400 million in contract extensions and new work

won since 30 June 2017

â–  Cash reserves of $218.6 million and improved gearing of

17.5% provides strong balance sheet and flexibility to fund

growth

â–  On target to achieve earnings guidance of 40% uplift for

FY18

â–  Operating cash flow impacted by increase in working capital

for three new project start-ups

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Good timing I guess - SP on a high

 

Ausdrill founder and outgoing managing director Ron Sayers says he sold his $100 million stake in the drilling services group to avoid lingering uncertainty over the holding.

 

Mr Sayers confirmed this morning that the stake was offloaded last night to institutional investors via a block sale.

 

Ausdrill shares closed on Monday at $2.86.

 

Mr Sayers said the sale took advantage of the trading window available for company officers after the release of yesterdayÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s interim results.

 

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“Further, following my decision to retire, I also wanted to ensure that speculation regarding a sale of my shareholding did not distract investors from the ongoing strong performance of the business,ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ Mr Sayers said.

 

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“I remain fully committed to the company I founded until a new managing director is ready to assume the leadership.ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ

 

Mr Sayers earlier this month announced he was retiring after nearly 30 years at the helm of Ausdrill.

https://thewest.com.au/business/mining/depa...l-ng-b88757258z

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I bet he didn't think of that :biggrin:

 

Mind you, I think if I were in his boots I would have done the same - one never knows what happens to the fortunes a company when you leave it in someone elses hands. He did the hard work, he should be able to walk away with the rewards. He's been in the job a long time - 30 years I think.

 

 

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  • 3 months later...

Clash in Mali kills three at Ausdrill mine project

Peter WilliamsThe West Australian

Wednesday, 30 May 2018 12:32PM

 

At least three people in Mali have died in a clash between security forces and opponents of a mining project expansion in which WA contractor Ausdrill is involved.

 

Ausdrill today said it had confirmed that employees of its African Mining Services subsidiary were safe.

 

Hummingbird Resources, operator of the Yanfolila goild mine, said it understood the deaths occurred when a group of opponents acted to stop the company from carrying our site preparations

 

The company has been informed by the Malian National Guard that while upholding the rule of law, requested of them by the Government of Mali, a security incident occurred,ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ Hummingbird said in statement.

 

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“Very regrettably, we have been informed that this incident has led to the loss of at least three lives(two of which are believed not to be Malian nationals).

 

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“The company expresses its sincerest condolences to the families of the deceased and others affected by this incident.ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ

 

UK-listed Hummingbird said its employees and contractors were safe.

 

AMS has a $147 million, three-year contract to provide mining services for Yanfolila. It had expected to employ about 450 mostly local workers at the project.

 

Hummingbird said it had previously agreed with local community leaders, the MaliÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s Ministry of Mines and local government to extend mining operations within its permit area to the Komana West deposit.

 

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“In recent days, a limited number of people in the local area have disputed the companyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s plan.ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ The company said the opponents had acted unilaterally to stop the preparatory work.

 

The Mali Government holds a 20 per cent stake in the mine. Hummingbird said 95 per cent of the workforce were Malian nationals.

.

 

https://thewest.com.au/business/mining/clas...t-ng-b88851538z

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