That $6bn TenderBook..., page-231

Updates on the status of RCR  at PILBARA MINERALS and FORTESCUE as of November 27, 2018 :
-The work is essentially ‘done and dusted’


From Peter Williams at The West Australian  (27/11/2018)
https://thewest.com.au/business/con...rk-as-it-searches-for-lifeline-ng-b881032467z


..... “RCR shares were placed in a trading halt on November 12 and never emerged from suspension. ........
...........


Two Pilbara mining projects RCR had been working on for Pilbara Minerals and Fortescue Metals Group this year have been finished, the two clients said yesterday.

“The Stage 1 Pilgangoora concentrator construction with RCR is complete and they have no ongoing presence at the site,” Pilbara Minerals managing director Ken Brinsden said of the lithium project.

“Significant bonding is still in place as we work through the defects liability period, and we do not anticipate any material impact from RCR’s administration.”

Fortescue chief executive Elizabeth Gaines said RCR had been the lead contractor on the recently installed relocatable conveyor at the Cloudbreak iron ore mine.

“The conveyor has been commissioned and Fortescue will work with RCR to ensure that any associated works are delivered as planned,” Ms Gaines said.

Workers at continuing RCR contracts are being paid on a day-by-day basis, with the administrators guaranteeing pay for a minimum of eight hours a day.

They have also guaranteed airfares and accommodation for fly-in, fly-out workers, according to the Australian Manufacturing Workers Union.”......




Given the reports of  ‘in the field’ overall happiness that jobs have been saved, the division will continue and, out of potential disaster has come prospects of a silver lining with a great boss in a local head office* where finances will be dealt with by someone with long term experience of RCR’s work, I am expecting the next step to be a vote of confidence  from the clients..... some time after business has been integrated and the half yearly ?
(exoected on Tuesday Feb 19, 2019)

*from time spent on the RCR threads I gleaned there was sourness RCR headquarters were in Sydney.**
** but to be honest there was also sourness it hove from Perth .....