stage 4 lock down, page-12

I live in the north shore, i see their skip bins around. don't see much of a disruption so far.

But then again, this is a limited view.

I think the biggest effect from the lock will come from commercial waste (not construction). But according to the latest macquarie investor presentation, this segment only represent 17% of their revenue.

post collection work is contractual, think about it this way, the amount of waste collect from a construction site are fixed. it may be delayed, but the material and waste created will be not change .


Also in regards to lockdown, fortunately they have a waste site in both states. So the boarder closure should not affect their work.

As a matter of fact, i think there is a potential upside with qld boarders being locked, now NSW commercial waste will need to be disposed locally, rather than through QLD (with a lower rate).

For the reason above, I've recently added a significant stake worth 20% of my portfolio.

Previously had a great run with Bingo from the $1.5 low and sold around $3. Hopefully it will pay the same return come next year, when the infrastructure projects come online.