Not bad!This is for investors rather than traders I expect.AAX...

Not bad!
This is for investors rather than traders I expect.

AAX has developed impressive list of projects.
Here's the list:

Table 1 : Ausenco current major projects

Project Name Client Location Project Value (US$) Completion Date
Nui Phao Tungsten Project Tiberon Minerals Vietnam $302m 2008

Jinfeng Gold Project Sinogold China $85m 2006

Yabulu Operations Upgrade* BHP Billiton Australia $15.3m 2006

Grand Cote Zircon Project Mineral Deposits Limited Senegal $114m 2008

Lumwana Copper Project Equinox Metals Zambia $500m 2008

Phu Kam Pan Australia Resource Laos $230m 2008

Lady Annie Copper Project CopperCo Australia $45.8m 2007

Hidden Valley Gold Project Harmony Gold Papua New Guinea $250m 2008

Kwale Mineral Sands Project Tiomin Resources Mombasa Africa $187m 2008

Delores Silver Project Minefields Mexico $100m 2007

Total $1,829.1

Source: Ausenco prospectus, Iress company announcements and AAX company presentation 19/09/2006

Not bad!

Here's what ABN Amromorgans has to say today ......

A calculated risk to reap rich rewards

As expected, Ausenco has converted the EQM US$407.6m Lumwana project, in Zambia, to an Engineering, Procurement and Construction (EPC), or fixed price, contract.
A large proportion of the front-end engineering and equipment procurement has been completed, mitigating delivery risk and allowing AAX to cap liabilities and confidently roll the project into a potentially lucrative fixed-price EPC contract.
The project will primarily affect FY07 and FY08 earnings only.
We forecast it will contribute about A$100m pa to total AAX FY07 and FY08 revenue.

Our FY07 and FY08 revenue forecasts have increased to A$229m and A$256m, from A$189m and A$224m respectively.

We have increased our FY07 NPAT forecast by 17.5% to A$17.5m, reflecting the likely improved margins as a result of the Lumwana contract's conversion to an EPC
contract and the continued growth in personnel numbers.



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