Valuation Metric, page-3

G'day Wise-one

I share your enthusiasm as to RBR being uniquely placed . That said , on the revenue numbers , I would suspect RBR would receive a "training fee "per employee of Andarko direct , or to their subbies .

Lets say a monthly wage per unskilled employee is $2160   ( $15 pd x 6 days x 24 =$2160 ) .

To get to a certified standard , RBR may be able to place and train prospective candidates for say a course lasting 2 weeks ….and be paid net for those 2 weeks ( net being the Employee would pick up the tab for overheads ie food and accommodation )

So RBR would receive $15 x 12  = $180 .

Probably allow for refresher courses , and upskilling ……..but "disallow " that factor , but virtue of some contractual deductions for employees who didn't cut the mustard on the job after training , and who quit within say 3 months etc .

Just guesswork on my part -----but perhaps a lesser picture on high revenue numbers , but expect RBR might get the bulk of the training and as they go forward , the "skilling" will be upgraded to more specialist roles , like crane and mechanical work , first aid and communications etc .

Just trying to be objective here .. Perhaps some modification of your assessment  could be applied

cheers