That $6bn TenderBook..., page-150

This article is interesting – https://thewest.com.au/business/min...ntos-hush-hush-find-in-pilbara-ng-b881041499z. The recent exploration activity in the Paterson Range Region has in past weeks received publicity that included mentioning RIO, so it is not as hush-hush as the reporter is attempting to suggest.

Anyhow, new work is no longer the point on which investors in NWH should focus their attention, as Pbawley suggested many months ago, NWH has passed the scratching for work stage, and it is the margins of profitability that are now more important. All the recent cases of mining-and-infrastructure services companies collapsing stem from non-viable pricing for the work they did, rather than the lack of work per se.

By the way, months ago I thought that the contracts for RIO's Koodaideri project would be let by December, but I now know that the tenders the last of the 31 packages of work will only close on 24 December, so we can expect Koodaideri-related Announcements from NWH in early calendar year 2019. This should flick the SP up a tad. I am still punting that NWH should hit $2.30 this financial year, rather than this calendar year. Good news on margins and NPAT would help the SP get to $2.30 better than mere Announcements of more work.
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