Jule's started off by mentioning an article that was released yesterday that was full of factually incorrect information. This was in relation to our Mt Holland contract and one at Kwinana that is not even ours.
Hopefully the Co releases a statement refuting the information and puts the record straight.
There is plenty of work, particularly in the Civil space and not enough contractors to physically undertake them all. This bodes well for NWH, a Tier 1 company that is in the box seat to win some of that work with good margins.
We missed the Tallisman contract, circa $1.1b as we were not prepared to chase contracts that would lift revenue but at the expense of margins.
The level of debt has increased due to the Cap Ex requirements, particularly for the larger contracts. $75m alone for the Karara and Kogan Creek contracts.
And no significant Cap Ex required for the second half.
Labour availability still tight.
Just a few of the snippets I noted.
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