Sedgman Progress Claim at Woodlawn Rejected Again

- March 18th, 2019

Heron Resources announced that another progress claim from CIMIC Group subsidiary Sedgman has been rejected by the contract superintendent.

Heron Resources (ASX:HRR) announced that another claim from contractor and CIMIC Group (ASX:CIM) subsidiary Sedgman has been rejected by the contract superintendent.

As stated in the press release:

“As noted in the Heron release dated 4 March 2019, the $53M claim includes the $49.9M claimed in the previous month that had been rejected by the contract superintendent. For the month of February 2019, the contract superintendent has now approved new variations totalling $76,082, being for work recently requested by Heron and approved under the formal contract provisions. The contract superintendent has rejected the remainder of the progress claim.

“The company remains extremely disappointed in the actions of Sedgman in attempting to circumvent the fundamental principle of the contract entered into to give project cost certainty under a guaranteed maximum price contract framework.”

Click here to read the full press release from Heron Resources.

Are gold stocks a good idea for 2019?


Get your free market forecast today

Leave a Reply

Your email address will not be published. Required fields are marked *