Ann: Half Year Results, page-28

I will look forward to your thoughts Simon and hope you are having an excellent holiday.
Mine is winding up today so it’s back to Perth tomorrow beautifully drunk on ocean and fresh air and NRW euphoria.

We are skiing here too in case you haven’t noticed - rapidly and uphill after those results, although the price has plateaued for the last couple of days to give people time to collect themselves and jostle around a bit.

I have been running a ‘naive’ eye over the reports as well....
There is o much more to appreciate with every read:
.. “The results for the first six months are a credit to the delivery and support teams across the business.
I couldn’t be more proud of them..........
........ Delivering this scale of revenue increase profitably has been a core focus for the business teams across the group and I am delighted to be reporting their success.”
This is a wonderful comment. Not just because of the genuine pride demonstrated, but because these results -the goal and the challenge for the NRW business teams -indicate a back story of real team work, meritous individuals, and excellent relationship building.
As an exercise in team building, and encouraging people to give their best, and developing loyalty - quite apart from the revenue increase of 95% in the last year and 51% in the last six months - it’s just fantastic.


I like the clarity regards FAL as well @pbawley .... “tIn determining the level of profit to recognise on the project NRW also refers to an agreement with Salini Impregilo which caps the total amount of profit that NRW can recognise on the project (being $19 million) and the maximum loss which NRW can sustain on the project (being $8 million). NRW does not expect either cap to apply.” (Financial Report)


Oh..and in reference to your comment onAction Drill and Blast pb...
.. “ADB looks like it still has a way to go, I think they are saying it is better on the ground now than it was and than the numbers show so far.”
On the Mitchell Services thread ( a drilling competitor @whitepointer commented they had just attended the RIU Exlorers Conference in Fremantle where there was : “Fair bit of confidence about and a lot of drilling planned over the next few years.”

Cheers for now and a good weekend to all

Oops PS ;

In reference to your “why take steroids..” comment Pioupiou ..... my idea is things can settle down now for a bit because as said above, the ‘steroid’ energy has proved everyone’s mettle and showed how good ‘best’ can be and there is possibly no need to expend that energy to the same degree as what was started snowballs under it’s own energy now, particularly with the addition of RCR MT.
Someone wise once said to me that it takes most of the fuel to get an aeroplane off the ground and into the air and after that it’s more economical .
I din’t know if it’s true or not but the analogy was used in connection to building business where it possibly is true .
Cheers .