Is there still a chance of an adverse court ruling / liability from the claim against MND by WICET? Last I checked this was somewhere around $90-$130m.
Latest mention by MND I could find was this could be sorted in the second half of 2016 FY.
Surely they cannot pay a special dividend until the court finds that there are no damages payable to WICET by MND.
Also note re excess cash balance: good mining services / construction companies generally carry a bit of excess cash on their balance sheets as a buffer against contract mispricing risk (which in itself is a kind of "off balance sheet risk" that is very hard to identify). To their credit, MND have a very good record so far in not over-running contracts.
Is there still a chance of an adverse court ruling / liability...
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$12.76 |
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