Bullish Sign? - Bounced off 200 EMA, page-2123

..so apparently Tasmania is not for sale although on the RCR thread word from the street is RCR Tomlinson most definitely is and comes with a bumper swag of contracts.
Possibly not for us even if NRW wanted it with big players also on the M&A trail ie Cimic foiled at McMahon’s gate and possibly still hungry,  Salini stating it is on the hunt for organic growth opportunities,  and Downer continuing to buy companies after acquiring Spotless in a mega deal last year (security company Envista purchased last March http://www.aeol.com.au/databases/news/18/03/downergroup_acquires_envista.html)

Mining News reported from Diggers & Dealers that Jules felt pulling another Golding out of the hat might not be so easy as the market had become  more expensive  but that Australian mergers or acquisitions were still on NRW’s radar .
(Who could we merge with ?)

Interestingly he also said Golding has doubled the size of the business !

Here’s the front end if the story :

“M&A in Australia continues to be on the NRW Holdings radar, though CEO Jules Pemberton suggested at the Diggers & Dealers mining forum last year’s A$85 million Golding Contractors deal was likely to become an increasingly tough act to follow as decent potential targets reinflated order books and valuations.

NRW itself is a good example of how quickly this can happen.

Pemberton, one of two ASX-listed mining service company leaders to make a debut as presenter at the annual mining investment conference, said NRW paid about A$85 million for Golding and had outlaid only $13 million on capital equipment to capture circa-$730 million of new mining work since last September.

He described the acquisition of Golding as transformational for NRW, which shrank like a lot of its peers post the last resources construction boom. Pemberton said Golding increased the company's commodity and geographic diversification, expanded its inhouse skilled labour pool, and added a promising ‘urban' business arm.

The acquisition has doubled the size of our business and brought considerable strategic benefit to the group," he said.

NRW is forecasting 40% growth in revenue in FY19 to $1.1 billion having already secured about $950 million of that work for the period.

Available surplus equipment within the group, and good relationships with plant hirers, should keep capex commitments low in the next 12 months.”
.....
https://www.miningnews.net/events-coverage/news/1344122/nrw-rebuilds-business-from-the-ground-up
(There’s more but I am not a member )
Cheers