Aurora Metals leaves $170m in debts
07 Jul 2023 - Queensland-based mining company Aurora Metals has collapsed, leaving a trail of debts totaling approximately $170 million.
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Emeco Holdings Limited
Emeco was founded in 1972 and is listed on the Australian Securities Exchange (ASX: EHL). We have operations in all key mining regions of Australia and our customers include mining companies and contractors across coal, gold, copper, bauxite and iron ore. Emeco also owns new model ancillary heavy earthmoving equipment rental company, Matilda Equipment.
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News
Bourse Discourse: AVG, RFG, EHL
News snippets were released during Thursday's ASX trading session from three companies at the smaller end of the local industrials sector.
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Bargains For The Brave In The Mining Services Sector
The New Criterion’s Tim Boreham highlights several mining services contractors, large and small, and their potential at this time.
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Emeco Hammered Despite Return To Profitability
Investors took the long handle to a couple of stocks yesterday - vitamins group Blackmore’s was one; heavy equipment hirer, Emeco Holdings was another despite producing a $12 million profit for the six months to December.
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Consolidation Plans Fuel Emeco Rebound
Emeco Holdings shares rose nicely yesterday after the company’s notice of annual meeting revealed a plan for a one for 10 consolidation of shares to improve their marketability.
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Analyst Views
EHL – Macquarie rates the stock as Outperform
Outperform retained, target falls to $1.27 from $1.35.
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EHL – Macquarie rates the stock as Outperform
The latest updates from the Australian mining services sector indicate production-related activities domestically have seen little virus impact while internationally is mixed, the broker notes.
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EHL – Macquarie rates the stock as Outperform
The latest updates from the Australian mining services sector indicate production-related activities domestically have seen little virus impact while internationally is mixed, the broker notes. Exploration and non-essential activities are nonetheless more likely to be curtailed. But in particular, iron ore and gold operations in WA are noted as being very strong.
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EHL – Morgans rates the stock as Add
First-half results were pre-released and the main new item in the financials was the growth guidance from the PnP acquisition. This contributes to a lift in Morgans' FY20-22 operating earnings estimates of 3-10%.
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