The excitement for me is not the size of the contract awarded,...

The excitement for me is not the size of the contract awarded, but rather the signal that it gives as what to expect - namely more contracts.

Today's FNarena has a summary of brokers' opinions on NWH. See https://mail.google.com/mail/u/0/#inbox/FMfcgxwBVMkklMxmmjmWnwdKvTpdNfld

A target SP is mooted as $2.25, and the contract wins at South Flank, Eliwana and Koodaideri are regarded as harbingers of more to come from those projects. I agree with both of these points.

On the $2,25 mentioned, my crude guesstimate posted on 21/01/19 derived a forecast EPS of $1.1 billion x 7.5% divided by 370.6 shares = 22.3 cents, which at a PER of 10 suggested $2.23. The calculation is so crude that I stuck to my long-held round number of $2.30.

My target price of $2.30 is not a then-I'll-sell target. By the time the SP hits $2.30, I suspect I'll have sufficient new information to calibrate a higher target price.