Australia's IMD gains as Citi points to robust exploration growth

Imdex

29/12/2025 03:06

** Shares of mining services firm IMD IMD.AX climb 1.3% to A$3.515 after Citi highlights strong November exploration activity as driver of topline growth

** Notes exploration financings have exceeded $1 billion for eight consecutive months, reflecting robust sector momentum

** Brokerage credits IMD's improved offerings, bolstered by recent acquisitions, for capturing market share

** Citi notes global drilling demand remains buoyant, supporting their optimistic view on IMD

** IMD trading volume is at just 20% of its 30-day average

** Stock up 50% this year, including day's move

(Reporting by Roushni Nair in Bengaluru)

((Roushni.nair@thomsonreuters.com))