NWH got of to a rough start yesterday going ex-div with a heap...

NWH got of to a rough start yesterday going ex-div with a heap of buy orders being pulled from the market leaving just 126,000 shares on the buy side. The one good thing about the lack of liquidity is that there wasn't anyone crazy enough to sell into it. The bad thing is that if you want out, you have to sit and wait. It did pick up later in the day with it finishing flat being down only the 1c dividend.

What's going to move this share price North?

1. Contracts soon to be handed out over in the Pilbara with RGP5 coming online.

2. Fortescue giving the green light to continue the remaining rail line between Cloudbreak to Christmas Creek.

3. Extension of Simandou contract in Guinea. Due to it's isolation, the fact that NRW are already on the ground gives them a big advantage for any new contracts there.

4. The management team buying up more of the company at these low prices or institutions getting back on board.

5. A takeover from MND, MAH, LEI or the like for a great bolt on acquisition at basement prices. Due to management holding a 20%+ stake, it's unlikely that they would give it away which is a positive.

6. JV with VDM over in Abu Dhabi.

7. Winning contracts coming from the govt infrastructre spend.


Plenty of scope for sudden improvement in value. Order book for 2010 already at 400 million with contracts in hand and under negotiation. Fully funded for 2010 with extra capex needed only if new major contracts won.

Patience will be rewarded.