Hi, I am Rachael, and you are watching Kalkine TV live from Sydney. This is The Stocks in
Action show. In today’s show we will take a look at the latest updates from Drones-as-a-service
provider Delta Drone International, Australian oil and gas exploration and production company
BPT, and IMDEX, a global mining technology firm. We will also look at tech group Nexion
and mining company Strike Resources. Lastly, we will take a quick glance at developments
across ASX200.
Firstly, shares of Global Drones-as-a-service provider Delta Drone International were trading
flat so far today, that comes after the company announced that it has struck a deal to acquire
60 per cent of Arvista. Arvista is a Perth-based provider of aerial and terrestrial surveying
services for the mining, engineering and construction industries. The deal is expected to be completed
within 30 days. Also, the Company has signed a Shareholders Agreement for a Call Option
to acquire the remaining 40 per cent of Arvista in the future. Arvista is a Perth-based provider
of aerial and terrestrial surveying services for the mining, engineering and construction
industries. The acquisition of a strategic stake in Arvista, not only provides Delta
Drone with an immediate presence in Australia, but also with an experienced team of drone
aerial survey operators to capture important survey data. Next shares in Australian oil
and gas exploration and production company Beach Energy are trading down so far today.
The company posted its financial year 2021 full year results as well as financial year
2022 guidance, announcing an underlying Net Profit After Tax of AU$363 million. The company
retained a strong balance sheet with net debt of AU$48 million, net gearing of 1.5 per cent
and liquidity of AU$402 million at year end. The Company stated that despite the recent
downgrade to Western Flank production and reserves in the Cooper Basin the Board has
maintained its 1 cent per share dividend for shareholders. Moving on global mining technology
firm IMDEX shares are currently trading up as the company shared its’ full year results
for financial year 2021 ended on 30 June 2021. The company registered a record-breaking revenue
of AU$264.4 million, up 11.2 per cent. It achieved an Earnings Before Interest, Taxes,
Depreciation, and Amortization growth of 38.8 per cent of AU$75.5 million. IMDEX generated
strong cash flow from operations showing an increase of 8.6 per cent and its balance sheet
reflected a strong net cash position of AU$47.4 million, up 47.7 per cent. The company also
paid an interim fully franked dividend of one cent per share. The company declared a
final fully franked dividend of 1.4 cents per share and a special dividend of 0.4 cents
per share. Recently, IMDEX acquired AusSpec and its aiSIRIS software to use AI technology
for enhancing real-time rock knowledge. It also signed three joint development agreements
to support new product developments and delivery.
And now, its time for a short break but stay tuned as I’ll be back with more
trending updates for the Australian market. @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ Welcome back. This is Racheal, your host live from
Kalkine Studio. And you are watching ‘The Stocks in Action show’. Shares of information
technology service provider. NEXION Group were trading flat so far today, post the company
shared on 16 August 2021 that it is all set to complete the acquisition of Blue Sky Telecom
on revised terms. The revised transaction is a single AU$2 million cash payment that
will be formally settled as soon as practical in the coming weeks. It was envisaged that
Blue Sky would continue to operate as an independent business along-side NEXION Networks in Western
Australia. Both parties agreed that integrating the teams would deliver a stronger business
able to tackle larger projects across Western Australia and deliver higher EBITDA for the
NEXION Group. The founders and owners of Blue Sky, Daniel Fairbairn and Simon MacFarlane
will remain in the business for at least six months. Blue Sky specialises in telecommunications
and satellite services that complement the Hybrid Cloud and SD-WAN capability of NEXION.
SD-WAN is an acronym for software-defined networking in a wide area network. Blue
Sky currently has over 380 active clients with the majority located in Western Australia.
Its revenue grew by 20 per cent in financial year 2020 and growth accelerated materially,
despite COVID in financial year 2021.
Lastly shares of the mining company are currently up after it confirmed loading of the first
shipment of iron ore from the Port of Pisco. Bulk Carrier the Federal Nakagawa is docked
at the Port of Pisco and is currently loading approximately 35,000 tonnes of direct shipping
iron ore sourced from Strike Resources Apurimac Project in Peru. The Federal Nakagawa will
under the terms of Strike’s Offtake Agreement with Good Importing International deliver
its load to China. Strike Resources has received US$4.5 million in pre-payments for this first
shipment so far, with the balance of sale proceeds to be received before the ship arrives
in China. Meanwhile, the company is focusing on building its local infrastructure in Peru.
Now before I wrap up, let us quickly glimpse through developments across equity and commodity
markets. The S&P/ASX200 is lower so far today, dropping 0.30% after setting a new
52-week high. Bendigo and Adelaide Bank saw its shares fall 9% despite announcing dividend
for financial year 2021. Financial is today's worst performing sector today. 8 of 11 sectors
are lower so far today, along with the S&P/ASX 200 Index. Materials is the best performing
sector.
Alright then, that is all for now. Stay tuned with Kalkine TV for more live market updates.
We will be back with more news on markets, the economy and diverse themes and sector.