Mining Services

SRG Global has announced $700m in contract awards, and we maintain our Buy recommendation with a target price of $1.55.

We have revisited our forecasts, with considerations made on the outlook for the HumeLink East project and the Infrastructure segment.

NIC announced March quarter production from its Rotary Kiln Electric Furnace operations of 31,840t contained Ni (BPe 32,003t), with 25,472t attributable (BPe 25,602t).

We have reviewed our valuation of RRL’s 100%-owned McPhillamys Gold Project following the recent update of estimated costs of key elements of the project.

In our latest monthly analysis of the Engineering & Construction (E&C) sector, a definitive reporting season summary has been completed, which includes a result analysis, and summary of important financial information, across the 19 companies included in our Bell Potter Engineering & Construction (BP E&C) Index.

During the month of July, a total of $886m in new contracts were announced by companies in our index. This was a strong result and was underpinned by $550m of contract wins from DOW across Roads, Electricity, Oil & Gas and Iron Ore.