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My investing journey in this company has been lucky! I got in at 70 cents, then after reading GG's postings, decided to bail out at a loss of $110 total. Then the price crashed and I got back in at 40 cents, which appears to be stable so far. Look at the recent spate of strategic moves - going into Defence contracts and snagging their first contract in Newcastle (they're based in Perth), it appears that Civmec Management is far from taking the O&G downturn lying down but fighting very aggressively to diversify into other areas - quite counter cultural to the laid-back Aussie mentality! The most recent results are a bit down mainly because of FX conversion, but both revenue and NPAT are up. I'm looking to add when the price is right. Any views from other VBs?
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Civmec Secures Further Work on Iron Bridge Magnetite Project
PERTH, 14th December 2020 Civmec Limited announced that it has been issued a Notice of Award for a major onsite project as well as multiple other important contracts of lesser value for various other clients. The combined value of the contracts is approximately A$140* million. The major onsite project will be delivered through the Minerals and Metals Division, while the other heavy engineering manufacturing projects will be delivered from our expanded fabrication facilities.
The awards include:
* a contract for onsite structural, mechanical, piping and electrical works for the Iron Bridge Magnetite Project, a joint venture between Fortescue Metals Group’s subsidiary FMG Magnetite Pty Ltd and Formosa Steel IB Pty Ltd (IBJV);
* contracts to be delivered from our Henderson facility in Western Australia and our east coast facility at Newcastle in New South Wales.
More details in
https://links.sgx.com/1.0.0/corporate-an...0Final.pdf
Specuvestor: Asset - Business - Structure.
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Civmec Grows Order Book to Over A$1.1 Billion
PERTH, 16th December 2020 Civmec Limited announced that it has been awarded multiple contracts, taking Civmec’s order book to over A$1.1 billion. The awards include the fabrication of significant port infrastructure by the Manufacturing division, as well as other heavy engineering projects to be delivered from our expanded fabrication facilities.
The awards include:
* the manufacturing of over 13,500 tonnes of wharf girders and associated structures for the development of port infrastructure at the Hay Point loading port in Central Queensland; and
* various other contracts to be delivered from our Henderson facility in Western Australia and our east coast facility at Newcastle in New South Wales.
More details in
https://links.sgx.com/1.0.0/corporate-an...0Final.pdf
Specuvestor: Asset - Business - Structure.
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