buy or sell.? whats not to like.?

nicolelee, few days ago you were saying BUY. Now Sell. Why such change in your sentiment?

Good call on WA road contract.

I purchased my first lot 2 weeks ago at 65 then 67 and then 71. Ave 66.5

I ran some numbers in last week and today from info from brr presentation and Full year Report.

For 2011 �

$550m mining + argyle increase $45m(est)= [email protected]% =$45m PBT.

$450m construction + karara $70m(est) +$40m(est)= [email protected]%= 25m PBT.

Total PBT already for 2011 $70m. You think they will not get any more contracts now to June next year?

For 2010 company reported-

$466m mining PBT $35m

$789m construction PBT $35m.

Total $70m PBT.

Construction contracts they just won needs very little capital.

Big potential for Macmahon IMO. Many more contracts still in negotiations. Mining contracts????? (nearly double margins compared to construction)

Solid order book over 2.2m

$2 billion in tenders. No net debt

Moly Mines contract- you have said this.

More overseas contracts

Leighton takeover??????

I heard they might get Karara mining contract end of year ($600m). Its between Downer and Macmahon from what I read.

I dont know what price it will go to but its worth more than 70c IMO. Div next year 3c ff. Good return on 66.5.

Whats not to like about this stock?

cheers all.


Im holding MAH NUF ERA and ROY.