I'm happy with that. This FY is in a strong position, already...

I'm happy with that. This FY is in a strong position, already locking in $60M - so we're ahead of last year with 4 months left. They're currently bidding on $300M worth of new contracts, with more than half expected to be awarded this year. They did mention that some of these are delayed, but more importantly these aren’t cancellations - just slower timelines from clients.

MCE is ready to scale up quickly once these deals come through, It's quite evident. Beyond oil & gas, I like the diversifying into offshore wind, defense, and advanced materials etc. They’ve already bid for $60M in offshore wind projects, and their corrosion protection and advanced materials divisions bring in steady revenue.

I would say short-term sentiment depends on contract wins, the long-term picture looks solid. If even a fraction of their pending tenders convert, the company is set for another big growth phase, and at current prices, it looks like an undervalued opportunity with serious upside.

It will be interesting to see what happens, depending on whether ppl focus on the strong revenue growth and future contracts or get caught up in the negative cash flow from contract timing. Regardless of short term, MCE is in its strongest financial position in years.