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Now on the contract miner Henry Walker.

This company has forecast a 10% rise in earnings per share in the 99/00 year. Revenue expected to be $1.08 billion. Value of work on books is 28% above previous corresponding figure.

This company very aggressive and diversified as stated in a previous thread.

HRW listing on industrials. Early last year share price was as high as $2.80. This year the share price effected by the drop in mining activity however as you can see from the report above they certainly know how to maintain revenue.

At current price appears to be a gd long term investment with gd dividends.

End note - if for whatever reason current directors take a hike bail out! It is the managments strength that makes this company what it is and I doubt that anybody else could fill their shoes (steel capped boots).

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Okay Wnaganeen I hope that you researched Henry Walker as history is a VERY interesting antedote attached.

Through the various takeovers; Eltins of National Mine Management and Henry Walker of Eltins an interesting little play has developed. Top 20 shareholders cross referenced on Henry Walker and MacMahon have some interesting names in BOTH camps.

Therefore, if I was a betting man (which I am) I would presume that Henry Walker will make a totally unsolicited and unfriendly tilt at MacMahons. Why - they have a large portion of the shares tied up and MacMahons are the only competition.

If you like monopolies in the mine contracting area then this could be one!

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Very interesting indeed.

My parents have some shares in McMahon, and I have been following them and Henry Walker for a couple of years. McMahon are very cheap, and yes I do like monopolies, but do you think the ACCC would allow a takeover. They don't like monopolies.

I will watch with interest.

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Me thinks that the ACC will have no choice in the matter. There are other contractors out there however with the constriction in mining activity recently it is only the strong that have survived. Remember that your capital equipment costs millions to buy and millions to maintain. (I have seen a $750K machine made worthless in underground after 7 months due to salt corrosion).

The independent private contractors have had a shakeout with Piggy Bartlett's mob going strong and Mott Ryan selling out - so it is destined that this will follow through into the public coy sector as well.

Henry Walker are in a strong position at present and can only get stronger. As stated in a previous thread this is all due to management and the fools notes on management should be adhered too!
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