Latest Research

GR Engineering (GNG) - Thunderbird(s) Are Go

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GNG has been appointed as preferred tenderer for Sheffield Resources Thunderbird Mineral Sands Project, possibly adding upwards of A$270m revenue and A$25m EBITDA over the next two years. Whilst progression of the project remains contingent on equity funding and a native title appeal in the Full Federal Court, it potentially represents GNG’s largest ever EPC undertaking. The project is not expected to impact our FY18 forecasts, but encouragingly would start to backfill FY19’s order book and underpin the Company’s minerals division for the next two years. BUY maintained.

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