I hear you. $30m contract is material and yet hardly any SP movement.
It's certainly a slow burn, plenty of time between contract wins with little updates in between. I would personally love to see more frequent business updates (what's the go with the "ghost shark", updates on the pipe-line (has it increased/decreased), even more specifics on how many contracts we are bidding on). Perhaps some of this was addressed at the AGM, but would love more announcements in any case.
It will take time, but I'm happy they are focussing more on advanced materials and corrosion services. Be great to build a track record of this revenue to help "keep the lights on".
The reason I'm holding is - there's little competition, it's a moat (seems to take ages to get accreditation and on customer approved lists), and I don't think we've seen full impact of O&G recovery yet, nor anything on offshore wind opportunity.
I'm no expert in this field, so would love others thoughts but above is just my two cents.
MCE Price at posting:
26.0¢ Sentiment: Hold Disclosure: Held
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