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If it’s true…

So first of all, my blog is private again.

Second of all, Mission Ready is moving a little this morning because this was posted on the Federal Procurement Data System.  The second one down is a $US200 million contract award.

In typical Mission Ready and TSX Venture fashion, there has been no confirmation, no press release and no halt of the stock.

If this is what it appears to be, it is quite significant to Mission Ready.  Consider that this is a ~CAD$35 million company, give or take.  Even assuming a 10% margin on these dollars, they represent a significant influx of cash.

Is it true?  Or is there some sort of gotcha that is not evident?  It would be nice to know with a bit more certainty.

7 Comments Post a comment
  1. $900 hammers notwithstanding, margins on high $-amount government contracts are often surprisingly modest. That said, this is great news (if it is news!), especially with the order end dates in the relatively near future (nothing worse than an open-end-dated PO); thanks for the heads up.

    October 28, 2019
    • Yes no question margins will be low. I’d recommend listening to their investor call from last month if you haven’t, they walked through margins pretty clearly – the play is all about volumes and so this is the sort of # that makes it work

      October 28, 2019
      • My thoughts too, pretty much. Suffice it to say I bought more today. And I am watching high-sulfur oil spreads with keen interest and some amazement.

        October 28, 2019
  2. dcreif #

    This contract authorizes the government to spend up to $204M on goods from Unifire until March 2020, but doesn’t compel the government to do so.

    October 28, 2019
    • I think it is fair to say we are all flying blind with an order this big and without clarification from the company its all speculation.

      October 29, 2019
    • Part of the uncertainty is just b/c its such a large number. If you go back to the very early awards the $ values did seem to line up with what MRS said. But this is so much larger than those so who really knows?

      October 29, 2019
  3. Sigh – they just announced it was a systems error on the gov’t website. Too bad.

    October 29, 2019

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