Ann: Brierty Awarded Perth Stadium Contract-BYL.AX, page-3

The $8.1m subcontract from Multiplex is a nice tiddler, but it's not a game-changer per se. The other contracts mentioned to support BYL's suitability for such work, and ability to get subcontracts from the bigger boys is hardly news, but it could be a hint of Management's expectations in the offing. The jobs mentioned are listed in BYL's webpage as:

December 2015
Milligan Street
Client: City Busport Alliance [Set up by Perth Transport Authority with Multiplex, and BG&E) to design and deliver the final transport component of the Perth City Link project – building a new underground bus station.]

December 2014
T1 Forecourt Road, Carpark and Services
Client: Perth Airport Pty Ltd

New Perth Stadium Miscellaneous Earthworks
Client: Brookfield Multiplex

July 2014
Airport Drive
Client: Perth Airport

September 2013

T1 & T2 Long Term Park & Ride Capacity Expansion
Client: Perth Airport Pty Ltd
T1 Forecourt Landscape and Canopy
Client: Perth Airport Pty Ltd

June 2014
East Perth Waterbank
Client: MRA [Metropolitan Renewal Agency, who awarded the $1billion multi-year Waterbank project let to Lend Lease in December 2011]

If there is a message hinted in this Announcement, it is that BYL is good at working in “live traffic” situations, and it has proven ability to “seamlessly integrate with other contractors for big ticket infrastructure”. A rider to this message is that BYL hopes to secure subcontracts from Lend Lease and Multiplex in particular, and similar large contractors in general; and that construction action required at the Airport end of the Forrestfield-Airport Link project may lead to subcontracts for BYL.

If you read the material at file:///C:/Users/Michael/Downloads/WAC1576-Final-Forrestfield-Airport-Link-MDP-Nov-2015.pdf, you will learn that 3.8 kilometres of the Forrestfield-Airport Link project is within the Perth Airport lease area, and BYL has in recent years secured four contracts from the lessee, Perth Airport Pty Ltd.

I would not be too hasty to turf my BYL shares at 8c – I'll wait to see what happens. It was only recently that NWH shares were in that sub-10c price range – that is, priced for a wipe-out. NWH is now priced at circa 60c.