Concerning is more losses announced on projects...ie.Pilbara. Its all very well to have an order book of $1.5b but how many more have they underquoted on to get the work and will end up being lossmaking. The 15% CR would not raise more than about $10m at current prices. They could easily lose that on 1 project based on current performance. And what about working capital for the order book. Where is that coming from? They need cash urgently to survive and they need to get some runs on the board with projects completed on time and profitable. Any more project delays, losses and I can't see how they can survive. Just IMHO.
FGE Price at posting:
90.0¢ Sentiment: None Disclosure: Not Held
