Our opinion on the current state of DRAGLOBAL(DRA)DRA Global describes itself as a "...multi-disciplinary engineering, project management and operations management group predominantly focused on the mining and minerals resources sector." It is listed on both the Australian Stock Exchange (ASX) and the JSE. It has its headquarters in Perth, Australia, and operates through 20 offices in Asia-Pacific, North and South America, Europe, Middle East, and Africa, with more than 4,500 staff. The company has expertise in mining, minerals, metals processing, and related infrastructure.
The company restructured its South African operation so that it now has a BBBEE ownership of 51%. In its results for the year to 31st December 2023, the company reported revenue down 1% and an after-tax profit of R19.7 million. The tangible net asset value (NAV) rose to 344c from 317c. The company had net cash of R127.7 million. Headline earnings per share (HEPS) was 42c, up from a loss of 2c in the previous year. The company said, "The Group delivered a strong FY23 statutory EBIT outcome of $47.9 million, up from $1.5 million in the previous reporting period."
The company listed on the JSE on 9th July 2021 and has traded sporadically since then, with many days where there was no volume. The average value traded per day is about R40,000, which makes it barely practical for investment by private investors. On 9th October 2024, the company announced its intention to delist from both the ASX and the JSE once shareholder approvals had been obtained.
