Stock data
| Market cap. | £51.4m |
| Last close | 138.00p |
| High / Low (52 weeks) | 143.5p / 93.0p |
| Stock market listing | AIM |
| Forecast net cash (US$m) | 15.4 |
| Forecast gearing ratio (%) | N/A |
| Team | Resources - Mining |
| Sector | Mining |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | 6.56 | 43.01 | 39.39 |
| Relative * | 11.8 | 54.75 | 53.19 |
* % Relative to local index
Other companies covered in sector
| Y/E Mar | Revenue (US$m) | EBITDA (US$m) | PBT (US$m) | EPS (fd) (c) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2010A | 33.2 | 4.2 | 5.0 | 9.2 | 24.2 | N/A |
| 2011A | 20.8 | (2.3) | (2.3) | (3.6) | N/A | 10.4 |
| 2012E | 70.3 | 5.5 | 5.6 | 12.8 | 17.4 | 210.8 |
| 2013E | 44.7 | 5.8 | 5.9 | 11.9 | 18.7 | 8.2 |
Last updated on 18/04/2012
Latest research
Interim dividend increase
Update | Mining | 16/12/2011
BFS wins & EPS upgrade
Update | Mining | 28/11/2011
Turning the corner
Update | Mining | 07/07/2011
Interim results
Update | Mining | 17/12/2010
Tough FY11; better FY12
Update | Mining | 13/10/2010
Results & contract win
Update | Mining | 23/07/2009
Year-end update
Review | Mining | 06/04/2009
Trading statement
Update | Mining | 28/11/2008
Maiden results
Flash note | Mining | 07/08/2008
Mining services in Africa
First day of dealings | Mining | 12/05/2008
Investment summary
MDM recently announced a trading update, indicating that it expected its annual results to be at least 10% better that current forecasts. Significantly, MDM expects the current financial year to be materially ahead of expectations too. The increase in the project and study pipeline from 31 March 2011 through to today is a result of improved market conditions and its own concerted efforts. With studies like Amari Manganese's Kongoni project and the Gold One and Goldfields JV scoping study in the pipeline, MDM could potentially have a significant FY12. MDM is now working with an increasingly blue-chip client base, including companies such as ENRC, Metorex, Gold Fields and African Barrick Gold, which all have projects in Africa and beyond.
Last updated on 23/04/2012
Industry outlook
Given that MDM's market ultimately depends on the capital development by mining companies, the increased bullishness in the commodities market provides more positive news.
Last updated on 23/04/2012
Key management
| Bill Nairn, Chairman |
| Martin Smith, CEO |
| Dominique De La Roche , FD |
Company address
| MDM House Cnr Bram Fischer Drive & Will Scarlet Road Randburg 2118 South Africa +27 11 886 7981 View website |
