My understanding is that the contractor had not and probably still has not achieved practical completion in the contractual timeframe. This detail was included in a recent ASX report from HRR. I believe the contractor was claiming inclement weather as the reason for not achieving PC. I have not seen Inclement weather accepted as a reason for delay on any significant construction contract. Hopefully the Superintendent has lodged a large counter claim for delay in achieving PC and any other issues with the plant discovered during the commissioning phase.
HRR Price at posting:
55.5¢ Sentiment: Buy Disclosure: Held
