Ann: NRW Holdings FY24 Results Update, page-7

Thank you KKLL …. Your thoughts are always much appreciated.

Meanwhile the West Australian thinks that $2m above top range guidance (not attributed to SPR) is merely a baguette-thingy .. or so they tell?

And that owner of opposition contracting company, Seven Group Holding, can’t resist the chance to stick the boot in about Jules’ pay package either, whilst withholding the information that the man has created more than a 6,000% increase in share price since January 2016!
… And looks like he has even higher goals in mind, judging from today’s update !


Go Jules!
You are the very bomb!
And their grapes are sour!

cheers

https://thewest.com.au/business/min...ly-to-spartan-resources-share-sale-c-15394134

NRW Holdings surpasses FY2024 earnings guidance due mainly to Spartan Resources share sale

Adrian RausoThe West Australian
Thu, 18 July 2024 8:45AM



Spartan Resources' Dalgaranga gold project in WA's Murchison region. Credit: Trevor Collens

NRW Holdings has beaten its underlying earnings target thanks largely to sticking around in a stock that was once a dud.
NRW said its unaudited earnings before interest, tax, and amortisation for the 2024 financial year is about $195 million, its best ever result and higher than the $175m to $185m range it previously forecast.
That earnings bump was predominately due to the meteoric rise of gold hopeful Spartan Resources, which has surged nearly 1000 per cent since March 2023.

During the year NRW sold 56.9m Spartan shares to realise a gain of $23m, of which $8m cascaded through to underlying earnings.
NRW acquired the shares between 2019 and 2024 as part of Spartan’s “various recapitalisations and debt compromises”.
NRW was the mining services contractor for Spartan, then known as Gascoyne Resources, when it collapsed in 2019 and later remerged from administration.
But the sailing was not smooth for Spartan after springing back to life, culminating in a desperate $50m funding injection in early 2023.
But the discovery of the high-grade Never Never deposit near its existing — and shuttered — Dalgaranga mine fuelled a skyrocketing share price.

The opportune Spartan sale may ease investor pressure over the salary package of Jules Pemberton — the mining contractor’s boss.
In November NRW’s remuneration report copped an extraordinary sixth consecutive pay strike.
NRW chairman Michael Arnett at the time waved away the shareholder concerns and instead lashed “the continued and unfair criticism” of Mr Pemberton’s $3m-plus annual pay packet by proxy advisers.