RE:RE:Aecon valuationYes, I wasn't clear on the backlog. The problematic L4 projects make up 10% of the backlog (If it was 50% we wouldn't be having this conversation...the stock would be under $5). What I meant is that of the current $6,851MM backlog, 50% is fixed price and 50% is Cost Plus/Unit Price. Only a portion of the fixed price contracts (the L4) have been impacted. Some investors may be concerned that other shoes could drop in the other fixed price contracts. I'm not concerned, because if those projects didn't experience problems during the pandemic, then they have been stress-tested enough for me.
More importantly as we go forward, any new fixed price contracts will be structured to reduce the risk from Aecon's perspective. The demand for their services is such that they can be more selective on which projects they take on.