1) Westgate Tunnel - TransUrban, about 1.2m T of PASS
2) the Pre Works PASS - Nth & Sth, JH, say about 100k T
3) the MMR1 Project with 1.4m T of PASS, which is to have Contracts award this month (unknown Contractors as yet)
So we are talking 3 Different Oranisations all needing PASS Disposal of fairly large amounts. That could reduce to 2 if the Lend Lease/JH Consortium gets the MMR1 Contract - as the PreWorks & main Contractor would both involve JH.
Thats pretty exciting to me ... No one organisations will come with monopoly power. They will need NAGs as much as NAGs needs them. In fact, once NAGs has one Contract, the 2nd Organisation will have less bargaining power. NAGs can say thats our price, take it or leave it.
One thing for sure - these two projects are going to produce a lot of PASS, well In excess of 2M tonne. LendLease came to NAGs last time (re EWL PASS) so Im thinking they will again if/when they get the MMR1 later this month.
NAG Price at posting:
4.8¢ Sentiment: Buy Disclosure: Held
