Thanks Westmount and Barrington….
I just wish I’d been smarter, sooner about liberating cash to buy more NRW in the low $2.70s .
And I have been reading a few twitter posts from this man after seeing him often quoted by the AFR;
So as well as being generally bearish about global affairs right now, I have seen NRW razed ‘for no reason’ too many times to feel confident that we’ll soon be back near $4 or even $3.50.
…. And it’s not ‘fair’,
And you’re right @westmount - this is a great contract for Primero!
And only four days till the dividend is booked!
— As of yesterday, 11am (price was $1.81) Commsec says the yield was 5.80% !
ASX-listed NRW Holdings on Thursday announced a series of contract awards through its subsidiaries, including a A$100-million contract from diversified mining major Rio Tinto.
NRW’s wholly owned subsidiary, Primero Group, has secured a contract from Rio Tinto for structural, mechanical, piping, electrical, and instrumentation procurement and construction works at the coastal water supply sustaining project in Parker Point, Dampier.
The contract, valued at about A$100-million, involves the development of a seawater desalination project, including seawater intake, treatment facilities, and conveyance piping. Work is set to start immediately and will run for about 12 months.
“This is an exciting opportunity as we continue to reinforce our long-term relationship with Rio Tinto through the delivery of world-class infrastructure performed in-house by Primero,” said Primero MD MichaelGollschewski in a statement.
Further, NRW subsidiary Action Drill & Blast has secured two blast hole drilling contracts at Yarrabee and Camby Downs for Yancoal. These contracts, valued at about A$19-million, span 36 months with an option to extend.
Golding Contractors, another NRW subsidiary, has been awarded a civil works contract by BMA at the Peak Downs mine in Moranbah, Queensland. The scope includes specialised earthworks, a public access road diversion, about 6 km of piping, and expansion of the existing spillway. The contract is valued at about A$60-million and is scheduled for completion by September this year.
These contract wins highlight NRW’s continued success in securing large-scale infrastructure and mining projects, further cementing its role as a key contractor in Australia’s resources sector.
NWH Price at posting:
$2.88 Sentiment: None Disclosure: Held
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