Scratching head so much it has turned into a nervous rash.
And a busy afternoon for NRW today volume-wise with around 1.25m shares traded in the CSPA and after market, and large trades in the lead up to close including 481,456 shares at 3.33pm
*scratches head* again.
Perhaps relevant (although not to TA?) see this afternoon’s story in The West saying Premier Mark McGowan is expected to announce “a way out” tomorrow.
It also lists some of the WA projects that have announced delays or worse due to labour issues.
And I have also highlighted comments from the WesTrac boss saying good business is mostly getting by.
NB in its full year results presentation NRW (with its’ many stable-workforce-projects both in WA and in other states) did say in regards the COVID-19 impact:
“• Major challenge is ongoing management of our people to ensure their day-to-day safety - COVID-19 restrictions continue to be applied across all activities.
• Major impact on WA Pilbara based projects affecting staff retention and recruitment due to border closures.
• Productivity impacted by competition for a limited resource pool driven by both high construction activity and strong commodity demand…”
So the market knows the issues and knows NRW’s strengths and weaknesses in regards them.
And yet the price falls including the large ‘low-priced’ action this afternoon :/
What next?
$1.50s would be horrible - despite that I know it is sought by some 
cheers
https://thewest.com.au/business/min...ase-labour-shortages-project-delays-c-4429913
WA resources sector calls for certainty to ease labour shortages, project delays
Adrian LoweThe West Australian
Thu, 4 November 2021 5:18PM
WA border restrictions are hitting the resources sector’s labour force. Credit: Ian Waldie/Bloomberg
More WA resources projects will inevitably be delayed as the skills shortage drags on and the State feels the pinch of reduced migration, industry groups warn.
After chemicals giant Albemarle announced completion of its Bunbury lithium hydroxide plant would be delayed, they said Friday’s expected announcement of the State’s roadmap out of pandemic restrictions needed to include a clear date for borders to reopen.
Premier Mark McGowan is expected to announce the way out on Friday.
WA is the last of all States to do so.
Groups said it was vital a clear date and pathway were outlined given more workers were desperately needed for projects to get off the ground, and be completed.
“We’re really up against it,” Association of Mining and Exploration Companies chief executive Warren Pearce on Thursday said.
“We need more and more people with more projects heading for development opportunities.
“There’s simply not the workforce to build the projects being proposed.”
Albemarle's Kemerton plant. Credit: Supplied
Albemarle’s plant is a year behind schedule.
It’s the latest in a string of delays announced in the past few months: a train driver shortage forced BHP to trim iron ore production in the Pilbara, Rio Tinto cut its iron ore guidance because of delays in constructing new mines, Bardoc Gold shelved a project near Kalgoorlie citing tight labour conditions, and Mincor was unable to restart nickel operations at Kambalda because it couldn’t get enough workers.
“It’s clear that the stresses and strains of the skills shortage is endemic across the industry,” Chamber of Minerals and Energy WA director of policy and advocacy Rob Carruthers said.
“A safe transition to reopening the borders will provide much greater certainty to these projects.
“If we can’t take those opportunities in the near-term, there’s long-term value at risk.”
Mr Pearce said delays would continue until the borders reopened, and even then, restrictions may also hamper companies’ efforts.
Further delay was to be expected.
“Those people prepared to move to WA to take jobs in mining or to keep their jobs have already moved,” he said, adding that the WA workforce, traditionally sourced from the construction sector, had been exhausted.
“We can’t do another six months of this. We’ve been doing it for 18 months, and asking people to work harder.”
WesTrac chief executive Jarvas Croome said clarity on the reopening of international borders to WA would also relieve some labour pressures, though he said from a workforce of 4500, he had 300 open roles.
“You can overblow these things; it’s not massive,” he said. “It’s good to have some more people but your business gets by.
“There’s more you could do if you had more people, and that’s the whole WA thing: it doesn’t matter where you are, it’s not that stuff is not getting done, it’s just not as fast.”
Mr Croome said a roadmap for border reopening would allow businesses to plan for what was ahead, particularly if international recruits would still need to quarantine.
Mr Carruthers said companies needed to be pragmatic about what could be achieved given limitations of labour.
“While the commodities cycle is performing quite strongly, every opportunity should be taken to capture value while it still exists,” he said
(20min delay)