I used to wonder the same, though it's been a trend for a long time - many of the other contractors suffer the same fate.
New work means more capital requirement - Perenti stated 'No new growth capital required' on the announcement of this extension. An extension is not growth, so what is the 'stay in business' capital requirement?
Oddly silent on that front wouldn't you say, even more so considering most underground equipment has an economic life of 5 years or less...
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