Concerning the SP, the dearth of win Announcements has not...

Concerning the SP, the dearth of win Announcements has not helped, but that negativism may be misplaced. probably would have remained silent. When searching the Internet for information on Nickel, I stumbled on a win story for $26m for two contracts for NWH-style work – see https://www.australianmining.com.au/news/fortescue-awards-rdg-with-new-cloudbreak-mine-contract/. NWH may not have Announced contract wins of that size.

Sometimes when a larger contract is won, NWH may Announce it, and mention other small wins that it had earlier. The 24 October 2019 Announcement, for instance, states:

“This order complements current works for apron feeders and belt feeders that RCR are supplying for Fortescue’s Eliwana Mine and Rail project and further strengthens our long relationship with Fortescue, with the contracts having an accumulated value of $40 million.”

The 26 June 2018 Announcement mentions a few large wins that probably had been Announced, but it adds, “. . . and a $7 million trial rehabilitation project at the Argyle Diamond Mine.” There are other examples.

Also, both Annual Reports and H1 Reports sometime names small wins that were not Announced. With RCRMT (DIAB included) and ADB in the Groupp, there may be more small-value contracts and extensions that are never Announced. I referring to NWH as a company, or Jules as a person being taciturn, in so far as they can be within the ASX rules. That is one reason why I am looking forward to the FY20 Announcement. The other reason being the usual outlook statement for FY21. I am fairly sure that NWH has locked in a large chunk of what it can handle in FY21, and it may be more selective than usual. Landing contracts at low margins is what caused the failure of a number of players in the same game.

Pioupiou displays his Micawberism again, so take his verbiage with a grain of salt. And by the way, the more dubious you are, lessen the salt, don't increase it, as some folk are wont to do. When that saying was invented as cum grano salis, salt was valuable, but one grain was not.