Sorry if I made myself a little unclear here maties.
What I was trying to convey was this ..
With the cost blow outs being so huge, then perhaps Minproc got it’s plans a ‘little bit’ wrong. I agree totally with snouty that GRD Minproc are excellent at their work. However, things can and do go wrong big time, at all stages of execution with contracts. If by any chance there is any blame on the ‘paperwork’ then it would of course reflect on Minproc going forward, although I’d expect this BHP contract to be protected.
So, had Brettney ‘known’ re the Ravensthorpe news was to be announced then I was suggesting he might have been taking out some insurance. OK, I have made it clear enough that he’s probably insuring his retirement cash fund with some diversity, what with the markets in peak territory etc worldwide. For him, it would be a very sensible move as far as I can see.
Snouty you quote : ‘Minproc has a brilliant track record for completing jobs on time and on budget’.
They are and I have said this on many occassions.
‘All in all this stock should continue to re rate as it's qualities and value are seen.’
Totally agree once more.
I agree fully with Airedale’s post too.
Apolgies for not making myself clear here laddies. From experience, I’m a bit of a ‘worryguts’ on large contracts, having seen so many get it so wrong and so many get it right but make no money out of it.
I remain a buyer of GRD to get back in at $1.65. If the markets get wolloped then I’ll stand aside from all stocks apart from possibly IMF and MOS.
As an aside.. Funny now but not at the time .. I know personally of a contract where none of the reinforcing metal was cost calculated for the main supporting pillars for a block of apartments. This cost everyone dearly. On another occassion, I know of a huge damn that was being built and a percentage of cement ‘went missing’ resulting in it being sold elsewhere. The damn collapsed on the first build up of water pressure killing a few, breaking the contracting the company and filling a few prison cells. It was on analyisis that the cemnet mix was found to be too weak. OK I’m not suggesting the likes of this here for BHP but just to say it does go on. And I am talking of what were large European contractors at the time lol.
That reminds me. Just received the local Town Hall’s plans for new urbanisation works which involves my home. I’m no pro civil engineer nor accountant lol but having just read it all through I’ve got to say it’s very thorough. It’s even down to all the safety road signs which no one will observe ! I bet odds on the costs will blow out tho, hahaha. Just hope the car doesn’t fall into the new sewer pipes.
'My Profile' states : 'trust few directors and always err on the side of caution'. It's not there to read, based on a whim !
Salud 40.
GRD Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
