Dymanic Group Holdings is a mining services company primarily (or perhaps completely) involved in drilling and blasting. Listed on the ASX in August 2020.

Bear Case:

1. Business success driven by sentiment in mining AND willingness of mining companies to explore and spend. Business can be decimated during downturns in mining.
2. Low margins with high competition. There are a plethora of ASX listed drilling companies.
3. Negative sentiment in company. Share price in downtrend
4. Low liquidity (share price)

Bull Case:

1. Recent acquisiiton of Orlando Drilling (a bigger company) is already to leading to benefits
2. Large amount competition = possible future consolidation in sector
3. Profitable and operational cash flow positive by $7m in H1 FY22
4. Low valuation - $45m at 40c

Revenue grew from $11m to $34m

Company profitable by $1.4m

Operational Cash Flow Positive by over $7m

EBITDA positive by $8.1m

CAPEX over $8m so company was NOT free cash flow positive