Yes it's been an exceptional performance over the last year. The wave of work in the gold industry is still going so I think they are capable of keeping revenues at least where they are. The lockout of WA has probably helped them too relative to others.
Two projects to really watch out for over the next 12 months are:
- Northern Star's proposed upgrade of the KCGM processing infrastructure from 13Mtpa to maybe 20Mtpa+. GR are doing the plant upgrade at Thunderbox currently for NST and on a recent conference call were highlighted as performing very well. Bodes well for any role at KCGM. GR are doing the feasibility study for KCGM that will be released by NST in the June quarter. This could be in the multiple hundreds of millions of work, probably staged over a few years.
- Oz Minerals West Musgrave Project. This was called out in the presentation pack but perhaps with not enough emphasis. This is a very large project with a 10-12Mtpa plant and total capex exceeding $1B. If they win the construction contract it would be a step-change in the size of projects GR constructs.
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