Ann: SIMPEC Awarded $145M Contract for Iron Bridge Project, page-106

Have a look at the half yearly report — unlike other companies WSI don’t make a profit and given the severe labour market shortage there’s a significant risk that they deliver this sudden large contract win at a loss!

When the full year accounts get released in a month new investors will also realise the cash on the balance sheet isn’t real, but rather an illusion based on timing. NTA is all that matters.

Any rational investor will have no confidence WSI can deliver this contract without substantial additional funding (dilution incoming). Even if they do secure funding, there’s now lots of risk if this large contract doesn’t get executed properly; the whole company is on the line now given how disproportionate this contract win is.

DYOR