Primero Group Limited Revises Revenue Guidance for the Fiscal Year 2019; Announces New Contract Awards
Business activity has been active within all key sectors. Primero has now been conditionally awarded multi-year Build-Own-Operate (BOO) and Operations and Maintenance (O&M) contracts with Core Lithium to the value of approximately $100 million. The Company has also secured recent Early Contractor Involvement (ECI) contract wins with Agrimin Limited and Hazer Group, both of which deliver strong follow-on potential for large-scale Engineer-Procure-Construct (EPC) contract roles. There has also been further growth in qualified pipeline opportunities. This has included qualification for several new large-scale project opportunities including a number of multiple-year BOO and O&M opportunities, and ECI contracts with a solid pathway to development. Several potential project awards have been delayed due to external or client-specific factors, however these projects remain current and, in Primero's view, possess a reasonable likelihood of approval in the first half of fiscal year 2020.