NRW got another win today, page-64

Thanks @Litigant - "There is no way that the extent of drill and blast can be determined in advance and would always be subject to variation." That's interesting (I don't understand the business well enough to see why that's obvious!) However, that's great if true.

It raises the question for me: If NRW don't think they will make a profit in the end, why is that? What variation or unexpected cost has arisen that they don't think will come out in the favour in the end? Or was that statement effectively the auditors talking saying that it is not reasonable to assume a profit will be made based on the adjudications and judgements at the date of the final results FY2015.

@Rambo23 thinks they have booked at $100m loss on the project, which looking at my numbers I can see looks plausible. Are you saying that you think they could in fact make a profit when the final settling is done after 18 months? Or if not what do you think is possible under your interpretation?

Cheers
pb