Member Info for 4Corners

Refer to Borr Drilling's update from yesterday. Yes, the dividend rethinking is not ideal and management is being unnecessarily and overly prudent imho across the board, as usual. Looking forward to the new vessel joining soon

In that case we have bigger problems than GMS and lot of things become irrelevant

You do realize that their clients in the gulf (aka opec members) are increasing production, right?

Hey AA - good to hear from you. I am sure it will cross the 30p in due course with the strong operating metrics, but my worry is that it will be a grind and the IRR won't be great. Management has done well and the environment has been fantastic to warrant high 20s already, but it is what it is. Always thought its easily worth 35-40p or more, and recent backlog wins confirm that thesis

@Lorenzo - that is indeed a nice chart! All time highs, and that is my point. GMS has clawed back their EBITDA close to the all time highs of 2015 (which happened at day rates 1.5-2x where they are today!), yet the share price has not kept pace

The top has been near the 20p mark simply because that brings in a ton of sellers and rampers. Again, nothing wrong in selling at 20p especially if it has been bought at 15p or lower. Fundamentally worth more and that is what i always said, but there is simply not enough momentum to push it to anywhere near fair value. Despite the strong backlog and a new vessel, 24p has been elusive and the stock is still below the high touched two years ago. I doubt the 1c dividend and the buyback possibility will bring in the heavy cavalry.

Take it easy guys - touched 24p two years ago.Great ride so far,but we have heard the rocket taking off warnings before only to be a nothing event.The story is far from over.Happy weekend!

Yup, there we have it boys and girls. It is ALWAYS the top when Mac ramps it up

Pj70 - the fast debt repayment and strong backlog has been the case for the past 12-18months.Divi story is also known.What makes you think more of the same will change the share price trajectory when it hasn't worked in the past?Asking for a friend

Missing those rampers who have a 35p price target by June next year.

Agree its cheap but no reason to buy without proper dividends

Decent company, terrible stock!

Which time?

If you mean the bid in 2020,that was a different situation then and it was certainly not the cash cow that GMS is today

What are they waiting for in that case? This was an outcome floated several times previously

Quarterly updates, half yearly reports

@ IE - my justification is the past 14months performance - 21p or thereabouts has been the peak despite all the positive newsflow (except of course that tax debacle) and the ramping from your crew every time it has touched those levels. Can't recall it stayed at 21p for an entire week. Not saying this is what it is worth (I am with AA on what its worth), but this is what the market is willing to pay for this now and what investors are happy to accept as they sell. Earnings, backlog, deleveraging don't matter for now

Congratulations on once again coming to ramp the minute it is above 21....this will always be the peak!

And speaking of volcanic eruptions, been hearing this for years now. Like mount etna, it will erupt some day

Stated in one of the recent contract wins that the contract was " secured at enhanced rates". Also in some of the previous ones

Is that from multiples expansion + some cash divi?

Done!

Was only ever neutralising the bs ramping peddled by you, most of it at the top. For eg, your claim last month that it only ever goes up from there and it would be a great month - obviously neither happened

Funny thing is the 30% gain came in the last 3 months - so yes if you were in only for the last 3months, it wasn't boring

-15% from last years high of 24p, which means at some point it was -40% or more from those levels

Meanwhile the company has added $60m in equity value from debt reduction in the last 12months.Share price struggles to stay above 20p (maybe the guy who bought at 15p happy to take their 30%?). So yeah, boring 12months from any long term investor perspective