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Thank you for your email. Our 2004/05 Annual Report is currently in production and we expect it to be printed by Mid October. It will then be sent to all Shareholder.


Kind regards

Suzie Haworth ~ Marketing Coordinator


I took some profits this morning http://www.sharescene.com/html/emoticons/rolleyes.gif

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Rumour in AFR that Monadelphous are looking to pick up some scraps from HWE:


The sad story of resources contractor Henry Walker Eltin took another unfortunate turn this week. After the company entered voluntary receivership in January and its founder and chairman Neville Walker died in February, receivers this week told shareholders not to expect any money back.


Clough, another struggling Perth based resources contractor, acquired HWE's West Australian civil construction business for $1 million in May.


The receivers now expect to sell HWE's core contract-mining business for up to $300 million before Christmas.


There are reportedly only two buyers left in the race, both of which are Australian.


One is known to be engineering giant Leighton Holdings, which could absorb HWE with little effort into its Thiess or Leighton Contractors businesses.


The identity of the other possible buyer is less clear, but there's a possibility it is Perth-based contractor Monadelphous Group.


HWE would be a far bigger bite for Monadelphous, and a "company making" deal if it could pull it off, given the quality of HWE's order book, client list and history.


Monadelphous has been such a performer that its market valuation has doubled in 2005 to about $320 million but its shares remain tightly held.


It is 10 per cent owned by its chairman and 10 per cent owned by packaging billionaire Dick Pratt's Thorney Investments.


An equity raising to fund an HWE bid would provide a welcome opportunity for other investors.


Whether it has the clout to go up against Leighton is another question.


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Monadelphous Group Ltd (ASX code: MND) had shown continuing improvement with all of its projects and operations performing well, managing director Mr Robert Velletri told the annual meeting in Perth today. "We are confident of achieving more than 30 per cent earnings per share growth for the half-year ending December 2005 from improving sales and improving margins," Mr Velletri said. "We are also currently in the process of tendering and negotiating a number of new major engineering construction contracts which provide us with confidence looking forward," he added. The managing director said the company's strong competitive position, together with a booming resources market, continued to provide a positive outlook. Mr Velletri also said, "We will continue to pursue growth of our recurring revenue base with further markiet expansion and development planned for the Maintenance and Industrial Services division." Shares in Monadelphous rose 15c to $4.31 today.


now $4.37 http://www.sharescene.com/html/emoticons/rolleyes.gif

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New Major Contract Wins

Monadelphous Group Ltd is pleased to announce that the company has recently secured over $100 million

in new major construction and maintenance services contracts.

The company's engineering construction division has been awarded a major construction contract

associated with the Yabulu Nickel Extension Project at BHPBilliton's Yabulu Nickel Refinery at Townsville in

Queensland. The contract, consisting of the provision of structural, mechanical and electrical works is for the

construction of the Wet Plant.

On the back of ongoing iron ore development projects in Western Australia, the division has also secured a

major structural and mechanical construction contract associated with the expansion of iron ore facilities at

Rio Tinto Iron Ore's Yandicoogina mine in Western Australia.

Both contracts are scheduled for completion in 2006.

In addition, the company's maintenance and industrial services division has won a contract for ongoing

structural refurbishment works at Rio Tinto Iron Ore's Tom Price operations in Western Australia. The

contract term is two years with a further one year option.


$5 is on the cards today

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Contracts just keep rolling in currently @ $5.50 after intra day high of $5.75!


Monadelphous Group Ltd is pleased to announce that the company has been awarded a

major construction contract by Rio Tinto Iron Ore associated with their Dampier Port

Upgrade Project, Phase B. The contract is for structural, mechanical and piping works at

the Stockyard and Car Dumper facilities in Dampier, Western Australia. The works are

valued at approximately $90 million and are due for completion in September 2007.

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