Favourite Fund Update :
- well OC Funds has been a stalwart investor in NRW long term although there it makes no mention of us in the latest (August) report :
But here’s some useful bits ( ..well useful to me anyway) (and interesting reading in the rest too!)
... “We caution investors from reading too much into short term share price movements, especially with the rise
term share price movements, especially with the rise of quantitative trading and passive ETFs which can cause short-term distortions in the market. .....
.....Federal and State infrastructure project pipelines remain solid. Core portfolio holdings, including Bingo Industrials and Seven Group Holdings, have reported improved earnings visibility thanks to infrastructure projects starting to commence along the eastern seaboard after lengthy delays. The real economy is expected to continue, benefiting from $100 billion
in Federal infrastructure spend over 10 years, along with $93 billion investment committed by the NSW government and $107 billion of Victorian government capital projects commencing or underway.
https://www.ocfunds.com.au/wp-content/uploads/2019/09/190831-OC-Micro-Cap-Fund-Fund-Update.pdf
Rise of the ‘machines’ including the EFTs, bots and algobats, has been one of my favourite topics since long ago when Dr Seuss view on ‘biggering and biggering’ led (almost directly?) to a complete misunderstanding, and the summoning of strange energies, resulting in a kind of Marxist invasion here (and you thought it was just a quiet little civil infrastructure thread where nothing much happens?)...
An unofficial mascot -Moloch horridus- was birthed from those proceedings, which just goes to show...
The news on the $100 billion Federal Infrastructure spend is already known, but a chance to remind that NRW is (still?) prequalified as a contractor eligible to tend on many of these projects (Highest National Prequalification for civil (Road and Bridge) construction contracts (R5 / B4 and F150 Plus).
I highlighted the comments re Fed and State infrastructure spend from the annual report presentation :
https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvTDYD5w+0yBaZruBxke92GA==
......“CIVIL
Outlook
- Secured work for FY20 of $473M mostly supported by replacement tonnes programs (Iron Ore)
- Further packages currently being tendered in Iron Ore (rail and mine site development)
- Directly addressable opportunities (earthworks and concrete) circa $2.0B for delivery in 1 to 3 years, with potential new opportunities in Oil and Gas in the same timeframe
Cheers
- Significant Infrastructure opportunities on East coast but participation dependant on improved contracting model
- Value of WA’s public infrastructure works $5B to 2028
- Further stages of existing property developments for the Urban business and continued expansion into new Brisbane growth corridors – sustained revenue through working across more projects”
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