great post above for you to read from MichaelScott.. only thing I would add to the Ivory Coast is that there is a lucrative maintenance contract on offer after they finish the build… could be around US$10m recurring revenue contract, which is one of the main reasons why they started this project. The build itself is one off, large revenues on low margin, but the maintenance contract is less but much higher margin and recurring.
but any new investors should be willing to hold for a while before this takes off.. it needs a big contract win, and it’s yet to get one of those in the US. Sense is that the Iowa lagoon project could be the closest one that could see a massive re-rate.
the business itself is going in the right direction though, just slowly … which is why it can’t attract any new money yet to invest into the stock. Too many other stocks flying, it’s an opportunity cost in many people’s eyes .. and I don’t blame them, it’s largley been the case for most who have held on for the last several years. But for a new investor, it’s a pretty good entry IMO.. only wish I was one
goodluck mate
great post above for you to read from MichaelScott.. only thing...
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