PRN had a 630m contract with Newmont and a 160m with NST, another 120 with red Chris and Flying Fox - so about 910m worth. Their WIH is unchanged and they have had 1.6b in revenue from contract mining in the last 6 months. So they still have the same work in hand, which is good - maybe partly from estimating inflation increases on some contracts. They have gone backwards about $700m in the last 6 months.
So that might be why they have sunk. Awesome pipeline, and very little new work.
They have $2.7b tied up in these contracts, and have made $280m EBIT over the year - so getting about 10% at the EBIT line. Might be about as good as it gets. Last year they got $153m EBIT on 1750m assets, 9% ish.
In 2019 they got $291m on 3.1b of assets. Still about 9%. With so much inflation - not much movement on these assets.
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