In theory, NWH could well announce some contracts earlier than...

In theory, NWH could well announce some contracts earlier than others, so taking the closing dates of the last tenders as the base line for guessing when tenders will be awarded is not necessarily logical. That said, I have no idea when we can expect to see Announcements, other than assuming it would be in the January-March quarter. These contracts would not effect FY19 revenue and NPAT, but they would effect the SP. Most folk would not go into sophisticated NPV calculations to factor these new contracts into the SP, they might simply use the EPS x PER rule of thumb, and bump the PER up to reflect changed sentiment.

On for what NWH would bid, it is better to look at the entire 39 parcels of work, and select those for which NWH may may bid. The first date was when tenders were called, and the second is when they closed. I suggest NWH has bids in for the first five packages of work marked in blue font below, for which I'll moot it should secure about $500m worth – less at a good margin is better than more at a slim margin.

1. Concrete Works and Underground Services 04 Dec 18 – 07 Jan 19
2. Conveyor Belting and Splice Kits 10 Dec 18 – 07 Jan 19
3. Conveyor Take up System
   Ropes Sheaves & Winches 10 Dec 18 – 07 Jan 19
4. Dust Fogging System 10 Dec 18 – 07 Jan 19
5. Koodaideri Airport 04 Dec 18 – 07 Jan 19
6. Overhead Cranes Fixed Cranes and Monorails 10 Dec 18 – 07 Jan 19
7. Process Plant SMP 04 Dec 18 – 07 Jan 19
8. Switchrooms 04 Dec 18 – 07 Jan 19
9. Water Pumps 10 Dec 18 – 07 Jan 19
10. Process plant Control System 20 Dec 18 – 24 Jan 19
11. Camp Crossing Rail Camp (rapid deployment camp) 21 Aug 18 – 31 Aug 18
12. Mine Plant Bulk Earthworks 06 Sep 18 – 20 Sep 18
13. Optical Fibre Cable System 21 Sep 18 – 06 Oct 18
14. Rail Communications - RBS (Rail Base Stations)
    Construction and Integration 21 Sep 18 – 06 Oct 18
15. Chillers 28 Sep 18 – 15 Oct 18
16. Isolation Gates 28 Sep 18 – 15 Oct 18
17. Track Weigh Scales 28 Sep 18 – 15 Oct 18
18. Ballast Supply 11 Oct 18 – 25 Oct 18
19. Concrete Sleepers 11 Oct 18 – 25 Oct 18
20. Accommodation Camps 05 Oct 18 – 26 Oct 18
21. Survey Services Mine and Rail 19 Oct 18 – 01 Nov 18
22. 33kV Switchgear 09 Oct 18 – 06 Nov 18
23. Mine Prestrip 26 Oct 18 – 16 Nov 18
24. 6/6 kV Switchgear 25 Oct 18 – 22 Nov 18
25. Conveyor Drives 25 Oct 18 – 22 Nov 18
26. Conveyor Idlers 25 Oct 18 – 22 Nov 18
27. Conveyor Pulleys 25 Oct 18 – 22 Nov 18
28. Laboratory including Building and Equipment 25 Oct 18 – 22 Nov 18
29. Mine - Shop Detailing 25 Oct 18 – 22 Nov 18
30. Variable Speed Drives (VSD) HV KD1/E/SM/2649 21 Nov 18 – 10 Dec 18
31. Distribution Transformers KD1/E/SM/2620 21 Nov 18 – 19 Dec 18
32. 220kV HV Overhead Lines KD1/E/CC/1606 21 Nov 18 – 19 Dec 18
33. 220kV Substation KD1/E/CC/1607 21 Nov 18 – 19 Dec 18
34. Motor Control Centre (LV) KD1/E/SM/2617 21 Nov 18 – 19 Dec 18
35. New 220/33kV Transformer KD1/E/SM/2662 21 Nov 18 – 19 Dec 18
36. Occupational Hygiene Monitoring Services 30 Nov 18 – 24 Dec 18
37. Paramedic Services 30 Nov 18 – 24 Dec 18
38. Sample Transport Conveyors 29 Nov 18 – 24 Dec 18
39. Telecom Integrator 04 Dec 18 – 24 Dec 18