Established in 1994 in Kalgoorlie, NRW Holdings (NWH) gained further contracts at other gold and iron-ore mines in Western Australia including multiple contracts in the Pilbara for BHP, Fortescue Metals Group and Rio Tinto. In 1998 it founded a transport division. In 2007, NWH won its first overseas contract and listed on the ASX, commencing its first coal contract in Queensland in 2011. In a joint venture in 2016, it was awarded a contract to build the airport rail line in Perth.
“NRW Holdings (NWH) is a leading provider of diversified contract services to the resources and infrastructure sectors in Australia,” Michael said.
“We see several positive catalysts for the shares over the short- to medium-term, and the price still represents value.
“In terms of its chart (pictured below), after falling dramatically in the first half of 2021, it then started to form a nice base that lasted about six months.
“When you see these formations, you just need to wait for an upside break to start the beginning of a new uptrend.
“After last week’s result, we got that required breakout on very high volume.
“We now have the start of a new uptrend in NWH which means that the share price should continue to recover from here,” Michael said.
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