Where there's muck, there's money.
New company Waste Co to list 6 Dec from the shadows of Goodwood Capital via a reverse take-over.
Details here; http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/GWC/403572/385021.pdf
$18.8 Mill revenue, but not much other financial info or projections.
Current Board:
Shane Edmond, Non-executive chair
James Redmayne, Executive Director
Carl Storm, Executive Director
Roger Gower, Independent Director
Angus Cooper, Independent Director
One to watch..... maybe.
Nice background article in BusinessDesk (http://businessdesk) today. They're looking to grow $100m in revenue by 2027. Pretty simple business model - they divert more than 40% of waste collected from landfill. Anything that is not dumped or dumped at a lower rate than landfill prices makes them $$$. They're keen on acquisitions and will fund that through equity. My concern is that debt gearing is high. I have dipped a toe in this one.
I drove past their Blenheim Road yard on Monday.
I lot of expensive vehicles sitting there idle.
Idle vehicles are not generating income.
Quote from: lorraina on Sep 27, 2023, 03:47 PMI drove past their Blenheim Road yard on Monday.
I lot of expensive vehicles sitting there idle.
Idle vehicles are not generating income.
Fair point but one of my concerns was more with humans, than machines. It's a labour intensive model, and their staffing has already increased from 50 to 300 in three years. Anyhow; some of the machines must be doing something some of the time. They reckon that one of them pulls 1.5 tonnes of nails from construction waste timber DAILY!
Yes another was in the city tonight sweeping the streets.