RE:You have to wonderYes, it was definitely reassuring (but totally expected ;-) not to see any "negative surprises".
But yes, the LSTK contracts are still very much viewed as a black hole by "the market"...millions are still going in (albeit within forecasts) and we're assured that millions will - eventually - come back out.
However, over and above having to assume the exceedingly problematic - from both a risk as well as an actual cashflow perspective - of being a banker to our LSTK clients, we don't KNOW how much $$$ we'll - eventually - be able to pull back out of this still-expanding black hole.
So Gabriel sir, with your exceptional knowledge and understanding of SNC's recent history, combined with your own professional engineering/contract/arbitration expertise, could we impose upon you to calculate and share a high-level "guesstimate" re: the "contested costs" (by project) that are in dispute here along with a "likelihood of recovery" probablity factor against these gross sums so we'll all have a firm sense of actually how much of a lumpsum amount is at play here?
And then we just sit back, wait and wonder WHEN we can expect to actually receive these "$ XXX,XXX.XXX.XX amounts of reimbursement...(although here I'm presuming it would be specifically deliniated in each contract....correct Gabriel?)
FYI...I'm buying more B4 close today when, I firmly believe, we'll see a decent bounce from the current price of $23.28 given the stellar peformance of SNC's Pro Services team over the past quarter....which is the KEY factor here and one that we know will only continue to strengthen in future.
GLTA
The Phoenix