And some unique (as in first time ) benefits if they succeed?
There may be unique execution risks on the way with this project but if they succeed it will genuinely be the start of the new company Jules has been striving to build from what was very nearly the ashes of the company in 2015/early 2016.
So not only is the project the result of a dozen years of development and drive to assert Primero as a premier player by Cameron Henry and team, (as per Cameron’s linkedin post above), it’s the result of the Jules’ forward planning over many years including the purchase of RCR’s Mining Technologies arm, BGC’s DIAB Engineering, Primero itself and most recently the OFI electrical group.
And he has laid clearly on the table - multiple times - his motive is for re-jigging NRW into the company it is today;
For example here’s a retrospect to his conference call in late 2021 (as recorded by me )…
[ref]“PRIMERO”
“We go onto the next business..
Obviously the Primero acquisition is very important and there have already been three significant wins off the back of that purchase that they have been working in for a long time.”
Jules said Primero was a little bit different in the way it wins its’ projects, for example whereas the NRW civil business would bid a document the scope of which was provided by the client, “..Primero works in very early on with clients from the start of the operation. They understand the ore body, develop the process plant with the client, develop the capacity of what they are requiring to do, what the material types are like or how the crushing cicuit needs to work.”…
He said this early attendance meant there were a lot of ECI style (early contractor involvement) or preferred contractor status opportunities.
.. “That’s something the NRW business has never had before.
Yes we get in early, we might put a budget in somewhere but it doesn't guarantee us the outcome.
The Primero business is such that the clients become so reliant on them we end up being in a position where we can
sole source negotiate with the client because of our integral approach in design and then delivery.”
He said Core was a good example of this and also Covalent where they had already been working nearly two years with the client….
“Strandline - same thing, so that’s certainly worth pointing out regards the importance of this business.”
He said if one looked at a mining operation in terms of what Primero could do, there were obvious additional components in areas such as earthworks, mining, and drill and blast which could feeds into other divisions (if NRW wished) of the business from something they (Primero?) get a very, very early look at.
So I’m wishing them well in regards meeting all those “ unique execution risks”, triumphing, and then walking boldly on in a direction they have not gone before, with more wins of this nature (including those two big lithium contracts in North America where Jules said in the last half yearly ECI work is underway …
cheers
(20min delay)