cruiseship
21 Sep 2016
Re: Looks like a buy to me There's clearly a lot of interest here as more people see and understand the prospects of an excellent growth company. Nice of you to come on here - and on the LSE board - to tell us all that you want to wait for the overhang to clear. Will you be kind enough to share with us all when you believe said overhang will indeed clear, and also why you clearly see no chance of the SP responding well to the completion of the Sub Zero acquisition at the end of the month? So a good bet for traders I'd have thought - and a compelling case for proper investors, long term but short term too, with results in November. Of course, November for day traders is decades away, I know.
Perceptive1
21 Sep 2016
Re: Looks like a buy to me Not yet it's not.. for me anyway.Too much froth around this share - especially the tweet brigade.Although of course, they have now gone very quiet.
cruiseship
21 Sep 2016
Re: Looks like a buy to me Looks a very good prospect this one, and the interest seems to be gathering a pace too, with plenty of newcomers to the LSE board, which has historically shown far more interest in MRS than this one. There are some great contributors on LSE, not least the detailed posts by Jack Allis are good reads.
the old trout
15 Sep 2016
Zac Mir Has just issued a write up on MRS with a 35p price target:[link] should tie in nicely with the results being issued in November.
Perceptive1
14 Sep 2016
Re: Great write up from Smudgedan Hmm...He was reccing a buy at 16p!!Need to wait for the overhang to disappear.
the old trout
04 Sep 2016
Great write up from Smudgedan in another place:MRS is a Queensland, Australia based company and is a combination of two, soon to be three companies being Management Resource Solutions, Bachmann Plant Hire and shortly Sub Zero Services. Their areas of focus are
roject Management Contract personnel Quality Control Data management/Document control Project inspection Plant Hire http:// mrsplc.net Combined MRS/Bachmann revenues for the year to 30th June 2016 around AUD 40,000,000 as evidenced by RNS dated 11th August. RNS on 26th July stated that “Trading for the group since completion of the acquisition is ahead of our expectations and net margins remain strong. It is anticipated that the Company will report its audited results for the year ended 30 June 2016 by the end-of November” We also know that MRS won a AUD 6m contract earlier in the year and is working on other tenders Proposed acquisition of Sub Zero announced in RNS dated 11th August. Westpac who are MRS bankers and provided the funds for the acquisition of Bachmann have agreed to offer $4.2m to support the acquisition of Sub Zero, conditional upon raising a further AUD 4m from other sources, hence the requirement of the subsequent placing at 10.5p. [link] … Info on Sub Zero [link] … [link] … The placing was initially going to be at 12.75p but wasn’t inside initially as it was “mentioned’” in the acquisition RNS. The price however dropped due to this and they had to reduce the placing price to 10.5p resulting in an additional 26,666,667 new shares coming to market on 13th September. This is in addition to the 7.2m shares being issued to Sub Zero with a 6 month hard lock in and 6 month soft lock in. Fully diluted shares in issue following the acquisition isn’t known yet but will probably be around 70m. The administrators have seemingly done a really good job with Sub Zero with the current monthly revenue up to AUD 5.6m from AUD 3m earlier in the year. The management team responsible for that have agreed to stay on within the business. The improving macro climate for coal producers in NSW has probably assisted this uplift. The hope is that this will continue plus the overall business will benefit from the economies of scale and MRS slick operating systems. The combined businesses of MRS, Bachmann and Sub Zero, based on current monthly revenues, annualised should be looking at around AUD 107.2m. This is without any growth from the current run rate. I would say that we should conservatively be able to add 10% to that so around AUD 118m for next year AUD GBP rate = 0.57 AUD 118m = GBP67M 10% Margin on GBP67M = GBP6.7M PROFIT So a SP on; P/E 5 = 43P P/E10 = 95P Negatives: Failure to conclude the Sub Zero deal - Unlikely imv.Fall back in commodity prices affecting MRS customers - possible but again unlikely.Reputational damage suffered by Sub Zero as a result of administration. - doesn’t appear to be a particular problem given that revenues are increasing. Lack of audited results for the combined business post acquisitions. Foreign AIM listed company. The inability to kick the tires etc.Lamentable initial time on AIM with the collapse of the initial RTO, poor funding partner. Think this has been negated by the successful deal with Bachmann and tie up with Westpac I have had correspondence with Paul Morrfew several times over the last year or so and have always found him to be responsive. i hope to get him on the podcast soon as i think there is a very interesting story developing here.
the old trout
31 Aug 2016
Re: Looks like a buy to me One to watch......well it came off my watchlist today with an initial tranch of 30K. I will add on any further weakness as and when resources permit, in expectation that the sp wil be a lot higher once year end results are reported around December. All acquisitions here seem to be value accretive but one would hope that the company now applies its mind to delivering the value from them rather than chasing any more through dilution.GLA,T
Perceptive1
31 Aug 2016
Re: Looks like a buy to me It is now, well, once the overhang is gone!One to watch.
Simbrad
27 May 2016
Northland published another note, it's available on Research Tree.. "It is a good contract win for MRS which demonstrates the ability to win tenders in areas the business was not previously exposed to. As previously alluded to the acquisition of Bachmann not only provides additional scale to the business but also provides the opportunity to tender for larger more diversified projects as displayed with the plant refinery demo project..."
Simbrad
24 May 2016
Read Northland Capital Partners's note on MRS, out this morning on Research Tree: "MRS raised £300,000 (before expenses) via a placing of 3,529,411 shares at 8.5p. This represents c. 9.7% of the issued share capital of the company. The net proceeds will fund a pipeline of new and potential contract wins as well as provide the business with additional working capital needs. Trading in the new shares will become effective on or around 27 May 2016 and following admission the company will have a total of 36,346,093 shares in issue..."
randomman
16 Jan 2016
Looks like a buy to me I'm no pro investor but this looks like a buy to me, worth a punt i'd say.Canaccord Genuity have reiterated a buy rating and issued a GBX 200 ($2.91) price objective on these 
I managed to bag a few of these at 17.3p. Lets wait and see.
longandstrong
15 Jan 2016
don't know whether it's the website messing up but apparently there's not been a comment since 8am yesterday morning.
longandstrong
15 Jan 2016
where's everyone gone....
lover
06 Jan 2016
totally agree
lover
05 Jan 2016
jajajajaja
