re: ann. not in breach of covenants HWE announcement this...

re: ann. not in breach of covenants HWE announcement this afternoon to the the ASX stresses that the media is wrong - in that they have not breached any of their banking covenants.

They are, however, looking for more short term funding from the banks - but this is old news; it was disclosed and discussed at the recent general meeting.

Agree it is a disappointing stock; contractors to the mining industry should be raking it in. However, imho (and hopefully), going forwards, this general industry buoyancy should allow HWE to recover some of the losses its made on its dud contracts.

Fingers crossed

Cheers
OG