Hi, I’m Sage. Welcome to this edition of the Hot Performer show.
In today’s episode we’ll be throwing some light on NRW Holdings share price.
NRW Holdings is an ASX listed civil and mining contractor providing range of diversified
services to the energy, resources and civil infrastructure sectors throughout Australia.
The company today announced on the ASX of signing a few new contracts. While
NRW Holdings’ subsidiary, DIAB Engineering, has bagged in two contracts worth about
AU$78 million, its another subsidiary, Golding Contractors,
also executed a mining services agreement with Wonbindi Coal worth AU$800 million.
Lets look at the announcements in detail.
DIAB Engineering offers tailored mine to market services and is a specialist mine maintenance and
shutdown services provider. It has signed two contracts with top mining companies- Lynas
Rare Earths and Rio Tinto. DIAB ‘s contract with a 100% subsidiary of Lynas Rare Earths,
Lynas Kalgoorlie Pty Ltd, is for the construction of filter building for processing
and making further concentrate of the rare earth. DIAB’s works include the supply,
fabrication and erection of filter building, installation of associated equipment and piping
and electrical and instrumentation installations. DIAB will be carrying out around 1500 tonne
of fabrication works for the Filter Building with the help of 80 local team members.
Also, a construction workforce of 60-80 shall be mobilised to site in coming months.
DIAB Engineering services for Rio Tinto Iron Ore’s Tom Price and Western Turner crushers
is to supply, fabricate and install multiple dust suppression systems. These systems are to
assist with improved control and suppression of dust generated from RIO’s operations.
The project will involve 60 people at its peak and will run for 12 months.
NRW Holdings’ 100% subsidiary, Golding Contractors also executed a mining services agreement
with Wonbindi Coal for its Baralaba North mine. The contract duration is of five and half years.
It is valued at about AU$800 million and marks the strong relationship
between Golding and Wonbindi. Golding has been providing contract mining services at Baralaba
north mine for last four years. The agreement will commence on 1 July 2022.
Now let’s take a look at NRW’s share price movement.
After the announcement of the new contracts being signed, NRW share price gained 3.51%
and its shares were trading at AU$1.76 in the morning session on ASX. The share price has lost
more than 11% in last one month and has given negative return of 5.19% on year-to-date basis.
In last one year, the stock has gained 18.46%. NRW share price lost 5.74% in the last six months.
Well, that’s all for now from this edition of the Hot Performer show
meanwhile keep watching Kalkine TV for the latest on market and business news.