Ann: Diggers & Dealers Presentation J Pemberton CEO, page-22

Thank you Pbawley you are right that he said ‘contracts’ ...I shortened “contracts to come “ to crumbs ( it rhymed and fitted with fighting over them)
But I still think, however smart he is, you are wiser ... in relation to NRW at least . ...
That’s not one-eyed loyalty bias, it’s just logical . You are invested here and are relatively exclusive in focus and he is not .
The loyalty bias is also there of course. I celebrate many of you every day ...and not just because it’s enlightened self interest for me to have a group of excellent contributors sharing the forum.

You are also right that it is good to balance things with an alternate perspective although how revenue assumptions can now already be priced in when we also closed at $1.73 back on February 28 this year and even before that, on January 5 at $1.67 amazes me .
There was only the assumption of the contracts on those dates..... maybe that’s enough to some degree . But those statistics and estimates could not possibly predict the operational update announced in June indicating better than expected performance!


As to the fact that ‘the market’ seems to be roosting here on a perch many of us believe is cheap.. well I don’t believe it’s because the powers that be have decided it’s ‘fair value’ here .
I think they have decided it’s cheap here too which is why they have been passing bucketloads of shares between themselves and rocking backwards and forwards to try to shake out loose stock.

As to your points :
..... he's right to some extent but it misses out:
- The mining services cycle is actually early mid stage, not late, and may bring more than visible now
- The infrastructure potential is not really factored into the SP beyond Golding maintaining current small infrastructure work levels
- The economic outlook potentially supports even more new infrastructure work over the coming years (IMO, not everyone agrees)
- Factor X: Positive outlook for 5 years combined with the momentum and investment in tech and skills leading to some 'second degree' ideas (as a few people have alluded to on HC): good stuff happens to good companies when they get tailwinds and they are hard to predict but worth attributing value to when you are holding already and considering if your company is fairly valued. The Golding acquisition would be an example

Hmmmm.
Impossible not to agree really

Thank you

I am going to very much look forward to poring over the report (next week?) too and poring over what people here have to report on the report