2022 General News etc, page-81

Hi DB … market likes new seven day quarantine ordinance introduced to WA today too?
NRW closed on day’s high albeit on low volume . (Currently 648,051)

And last seen (ie Feb 1) those shorts were packing out:

https://www.shortman.com.au/stock?q=Nwh


These are good signs?


Local drilling tech company, Imdex posted a record profit today too, so another set of happy sector results are in.
The West wrote;

“Imdex cited strong industry fundamentals and demand for its drilling optimisation fluids, rock knowledge sensors and software with activity particularly strong in the Americas and Australia, which it said were operating at or near full capacity.​

“The pace of this growth continued to be tempered by labour restrictions, together with wider industry pressures – notably longer delivery times for rigs and parts,” the company said.” https://thewest.com.au/business/mining/imdex-posts-record-profit-despite-covid-challenges-c-5595047​

- I don’t know if NRW uses Imdex technology, and clearly the service offering there is not equivalent to NRW, but I think it is worth noting as a case where - despite the squeeze on labour, equipment and parts - there is still so much demand that it is possible for strong businesses to come out on top.

Monadelphous and MACA results are more akin to us and their results are normally published first, so it will be very interesting to see how they are faring, along with that troubled Decmil (I did some reading on it and the website states it is trying to compete with NRW in several fields including citing it is targeting hydrogen and lithium projects!!)

cheers