NRW keeps positive outlook despite Gascoyne woes

WITH client Gascoyne Resources calling in the administrators on Monday, its drill and blast and mining services contractor NRW Holdings believes its exposure to its contract at Gascoyne’s Dalgaranga gold mine to be $35 million.

NRW keeps positive outlook despite Gascoyne woes NRW keeps positive outlook despite Gascoyne woes NRW keeps positive outlook despite Gascoyne woes NRW keeps positive outlook despite Gascoyne woes NRW keeps positive outlook despite Gascoyne woes

The grade of ore going to the mill at Dalgaranga has been part of the mine's problem.

That $35 million represents working capital, a second ranking secured loan of $10 million and equity in Gascoyne of about $4.3 million.