Ann: Half Year Results, page-43

RCR’s collapse seems to have been a stroke of good fortune for NRW and I don’t think there was much messing around pb.
This story from a reassuring ‘wife of a long term RCR employee’ that I found the other day makes me curious about the way things went in regards the sale.
https://thewest.com.au/news/south-western-times/rcr-is-doing-the-right-thing-ng-b881040158z
..and I also wonder about that other (rumoured) bidder. The RCR MT division was called the most valuable part of the company by someone over on the RCR thread.... Both CIMIC and Monadelphous have far more cash than NRW and could have easily outbid it.
Maybe the big guys, the majors said they wanted NRW to get the division and that would be that thanks very much?
(Which would be an amazing relationship if they did!)

...and all play aside (if I can), that upgrade by CITI around the FAL agreement does seem to potentially give us the ‘Colgate Ring of Confidence’ as far as many more buyers who are averse to high risk are concerned.

It’s a huge stamp of approval and with so many companies going haywire as far as fund managers go the good news here is potentially worth a lot more now than it was six months or a year back .
I saw that our friends at OC Funds have taken another hit (on top of GTN) with Bingo doing a crash .( Luckily I feel sure they were adding to their NRW holding at much lower prices recently .).
Anyway with multiple funds wlooking for low risk good value investments the news we have a cap moat protecting us in respect to FAL could not have come at a more opportune time.

.....and looking back over that one year chart I forgot to put in the September ‘downs’ we saw around the Dundas Rd sinkhole/tunnel flooding issue!



...and I found out on Friday what I thought was loan debt on my offset vs investment loan account is actually offset account surplus!
I can buy more shares too without borrowing!
After I pulled the two accounts out of their hiding place to consider drawing down on the offset loan I read how high the interest had got and wrote to the bank....and they wrote back and said they would reduce it a bit and I might want to consider moving the surplus in the offset to somewhere else.... !! ???
It was all set up when I put money into a five year term deposit at 4,8 and the interest on the investment unit was much lower and my late accountant said not to offset the whole loan . She probably worked it out so that when the term deposit matured the two accounts would match?
Anyway I can buy more shares without borrowing
CBA is possibly going to have to give me some money back too! (I am sure they shouldn’t still be deducting monthly payments!)
.....and if not for NRW I woukd never have known! How much of a pointer is that!