Updating McCoy Global, Sasol Ltd. (ADR) and Hecla Mining

Article Excerpt

MCCOY GLOBAL $0.62 (Toronto symbol MCB; TSINetwork Rating: Speculative) (780-453-8451; www.mccoyglobal.com; Shares outstanding: 27.4 million; Market capitalization: $17.1 million; No dividends paid) sells power tongs and other hydraulic gear for oil and gas drilling rigs. (Power tongs are wrench-like tools that tighten and loosen the pipe in a drill hole.) McCoy has now agreed to buy DrawWorks LP for $6 million U.S. Based in Boling, Texas, that firm designs, tests and sells tubular running technologies. Tubulars is a broad term for oilfield pipe such as drill pipe, drill collars, pup joints, casing, production tubing and pipeline. DrawWorks has now developed and patented a line of advanced tubular running technologies. Its “mud-handling” equipment includes Autofill Casing Equipment, AutoValve, MudSaver valves and Single Joint Compensator (SJC) System. The company’s most recent development—the DWCRT—is a modular, mechanically operated casing running tool. That kind of advanced tubular running system helps users more efficiently handle tubulars on both rigs and in wells. McCoy Global is a buy…

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