A $2Billion contract ann today! It's straightfoward overburden-removal and drill&blast at large open-cut coal mine. No digging deep underground where costs can escalate. DOW have said new equip will cost $190m stretched across next 12months. This contract is for 5 years and probably has a 5yr option attached.
To think this stk was driven down to $3.42 as recently as early July. Current SP of $4.82 represents a 41% increase is just 4 weeks!! bargain hunters of solid oversold ASX200 stks are making good profits. I've had the best week in months and am sure others will have done similar. Sure risk is indemic but mkt does offer-up delicious opportunities for those on the lookout.
My sell order (from ages ago)triggered so am out, but well-done Downer. Outstanding win. MAH (which i hold) and LEI will be spewing.
DOW Price at posting:
$4.66 Sentiment: Hold Disclosure: Not Held
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