Um …. But … but .. But Primero
has a new WEBSITE Pioupiou !
Truly.
Just since today !
https://www.facebook.com/primeroengineering/
View attachment 5199322
Congratulations Primero, and as you can see from the link, we can visit it, right now, here:
https://primero.com.au/about-us/
Or - to briefly dissemble - stay Pioupiou only whilst
May I draw your attention to Hamlet?
Perhaps - temporarily - you could see me -
(to set the mood)
as your currently fustigating
- and yet always extremely appreciative -
fardels bear?
View attachment 5199325
“To be or NOT to Be?”
For, if you go back to the website I just linked, you will see Primero
More seriously (
vilipending the whole notion of fustigatory fardels ), however fardely I am definitely
not an NRW bear, but neither am I drooling in hopes NRW margins will ever equate with your 10% projected LYL margin Pioupiou.
To compare the two is not ‘apples to apples’!
Lycopodium market cap is tonight under $362m
NRW’s is $1.10b!
So perhaps NRW METS division is a better ‘apple’ to use in a basic comparison?
It’s been under development since 2019 when RCR Mining Technologies cost $10m and DIAB, just
part of the $116.4m BGC package was purchased. After that Primero cost $100m, and now OFI has just been bought for $4m.
Combined it is possibly more akin to LYL - operating since 2005? … and is perhaps more capable of achieving your hopes of a 10% margin?
….And with happy timely timeliness I just found the good
@madamswer had already answered a question I was seeking the answer to
(thank you : ) madamswer!)
[here]
Comparisons?
For the whole of NRW, at the Rottnest Conference just over a month ago, Jules wrote:
“Earnings (EBITA) for FY23 full year guidance maintained at $162 million to $172 million” [ref]
And our METS division?
It achieved a lower than previous 6.4% margin in first half, but revenue was already higher than the $320m (up from $280m) expected in LYL’s revised forecast today.
However LYL may have beaten our METS NPATS in both original and revised forecasts?
View attachment 5199361
View attachment 5199364
Jules gives several reasons for the lower than FH 22 METS margin including a ~US$27m spend in expanding N American capacity and delayed contracts.
Time will tell on how this works out, but in the short term, given his traditionally on-the-mark and very recent guidance, plus various analysts’ expectations that we will NOT better it, given weather and all, and especially because NRW is a now an intentionally-diversified HUGE company that did not even have
any METS services on offer before 2019 …
….well I am just not drooling
And congratulations again on the website Primero, and to you also Pioupiou on your LYLs
cheers
(20min delay)