Hi All,
Sabine, Jacko and I met up and attended the AGM today. If anyone is wondering what we look like in person; Sabine looks like Natalie Portman! Jacko looks like James Dean! and I look like Paul Newman*... maybe
The meeting was a great opportunity to eyeball the management and directors, get an understanding of their character and gain insights into the companies prospects.
Firstly, (having seen my fair share of different companies management over the years); my impression is our company is in great hands, and we are lucky to have the quality of management we have.
Key take always: “the last time we had an order book of $1.7bn the market cap was $1bn” (it is currently $480m)
Lots of sustaining work for RIO, BHP and FMG is becoming available to the market.
Golding integration is going very well and meeting or exceeding expectations, they are a perfect strategic fit with a stable team and great management and have the highest level of qualifications required.
The corporate bonds issued were a great way to get access to capital and are ultimately held by 800 private Super funds. Commonwealth Bank has also been very supportive.
Contract Management, bid assessment and risk Management is all very thorough nowadays, and NWH only bids where they are confident they can make money and get paid. The Samsung CT situation was an aberration that the company learned from, particularly looking at counter party risk etc.
It was great to meet with Kim Hyman (Company Secretary), Julian Pemberton (CEO), Michael Arnett (Chair) and Andrew Walsh (CFO), they were all professional, experienced and made themselves available to answer questions and have a chat.
There is $6bn of opportunities in the pipeline, and given the consolidation in the market, potentially less competitors for the bidding.
Institutions are expected to get more representation on the share registry as the Market Cap increases, the NRW story gets out and we qualify for ASX 200 etc.
In all, the management had a good story to tell, my (finger in the air) predictions for the SP are $1.60 by December, $2.20 by April and $2.80 by June 2018.
Obviously the above are my opinions only, and you should definitely do your own research to inform your investment decisions rather than relying on my observations.
Cheers
Risk
* In our dreams haha
(20min delay)
