Why there’s a positive outlook ahead for IMDEX
IMDEX (ASX:IMD) delivered an impressive set of results for the financial year to 30 June 2021, which materially beat expectations and led to broker forecast upgrades. The two key points from the update include revenue growth of 11 per cent and EBITDA was up 39 per cent.
IMDEX is seeing very strong activity in Canada, the US and Australia with resource companies allocating increasing budgets and showing commitment to exploration spending.
IMDEX’s CEO Paul House joined Dominic Rose to discuss the company’s focus on digital transformation, the recent acquisition of MinePortal software and the outlook for the business going forward.
The trend towards decarbonisation and the growth and demand for battery metals Copper, Cobalt, Nickel and Lithium mean that in areas like Copper, we are going to consume more Copper in the next 12 years than we have in the last 100 years. And the sheer need to prove up supply through exploration drilling and bringing those mines into production just to meet that demand and meet what we think is a irreversible trend paint a very positive picture in terms of that longer cycle. – Paul House, IMDEX CEO
The Montgomery Small Companies Fund owns shares in IMDEX. This video was prepared 23 September 2021 with the information we have today, and our view may change. It does not constitute formal advice or professional investment advice. If you wish to trade IMDEX you should seek financial advice.