Ann: Half Yearly Report and Accounts, page-8

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Plimsoll

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01/03/18

10:25

Post #: 31441516
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Originally posted by stotes ↑

The Group continued to focus on smaller projects as well as the residential development in South Beach, Western Australia. The Group has an order book of approximately $30m as at the date of this report. ... The Board continued to focus on keeping overheads low and conserving cash until improved signs of a recovery are evident in the market.

The award of the recent contract at the Wodgina mine site for concrete placement and civil works has enabled the Group to re-focus its energies on where it is best suited to be able to drive value. There has been an increase in tendering opportunities in recent weeks, with several opportunities having been tendered of which we are awaiting the outcome.

The Group has continued to review potential acquisition opportunities in the mining services sector and with our desire to diversify away from our traditional construction focus, until now there have been none that the Board believe will deliver value. The opportunities reviewed have lacked a forward order book and have not been appealing enough for the Board to take the risk on acquiring. However, we are starting to see signs of this changing and have some interesting opportunities currently under discussion with various parties. The Board continues to be committed to growing our current business to both deliver value and growth.

Sounds like there could be an acquisition coming soon, along with potential further tenders...

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Nice to see you posting here Stotes, Yes, I'm hopeful that they'll use their not insignificant bank balance to
Reposition the business into emerging, mining, construction and infrastructure opportunities, something a bit more niche like.

RDG Price at posting: 2.1¢ Sentiment: Hold Disclosure: Held
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Ann: Half Yearly Report and Accounts, page-8

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Ann: Half Yearly Report and Accounts, page-8

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