Alpha Vulture
Deep value, special situations, long-term horizon, micro-cap

Emeco Holdings: A Bet On Liquidation Value

Editors' Note: This article covers a stock trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks. Emeco trades on the Australian exchange on the ticker EHL.AX, with $825K AUD daily volume.

Emeco Holdings (OTCPK:EOHDF) is world's largest independent mining equipment rental business. The company is listed on the Australian Securities Exchange and is mainly active in Australia, Canada and Chile. When commodity prices drop and miners reduce their activities, a rental company is the first in line to see utilization rates drop, and that is exactly what happened last year to Emeco. The company saw its average utilization drop from 86...

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