Agreed @SteveSage with the funding by creditors line - at year end they were $14m out plus unearned so they were circa $30m down the hole because of Wartsila. No working capital if you remove the Wartsila balance. As for the contract value - recognising 76m in FY2019 and then another $50 ish in FY20 tells me a $50m contract grew to $126m ( more if you add their total claims)? Anyway would love a Q1 update from these guys ASAP re: cash or even bank facility headroom whilst they deal with Wartsila, because I don't think COD exists in the construction game!.
PGX Price at posting:
37.0¢ Sentiment: Hold Disclosure: Held
