News: EGN Engenco Says Documentation With NAB Executed To Provide Co With Debt Facilities, page-9

On the RCR matter, I hold NWH, and I am delighted that NWH has obtained that bolt-on for a mere $10m. I can understand EGN being less interested, because it is still emerging from the mish-mash of companies that Michael Coote had bought, and which reduced Coote Industries Limited to a point of collapse, from which it (renamed Engenco) was rescued by Elph Pty Ltd.

A JV with NWH may be a good idea, because EGN could be brought into a tendering team for specific bits of work packages put out for tender as a whole. Anyhow, far be it for me to advise the savvy Dale Elphinstone how to make money. I expect the mid-year Announcement to be positive.