I interpret this to say that the construction forces have generally demobilised, except for where they are performing commissioning and testing and/or correcting defects.
Drives me crazy how the ML Board tosses easy pitches. So, what was the comparable statistic for the past two quarters (I should look these up, but if ML were running proper metric-based reporting we wouldn't have to) 69.2% sounds impressive - but only if it's a significant movement from a quarter or six months ago.
To be balanced, this does sound like progress.
Back to my last-quarter question. Only five of 46 complete does not sound like "systematic steady progress", especially if the number reported last quarter was non-zero. How many are projected to be complete by the next quarterly report?
The bigger-league question that never seems to be pitched: there have been rumoured or reported structural deficiencies, some of which while never voiced officially sure sounded serious, eg the alleged defects in the underpinning at Eglinton-Yonge. So, to set the record straight once and for all - has ML concluded that there are no serious quality concerns and/or outstanding issues which would require some significant further construction work? Is the entire structure built to the quality expected and life span as contracted? Are any of the remaining 41 seen as problemmatic?
Second big league question - of the remaining known defects and correction orders that are being worked down, which one has the longest projected time to completion? (Another way of asking - if something is at least x months from correction, that would mean no opening for that many months yet, right?)
Basic math then says that if we are running a bedding period of 2-3 months and the intent is to not announce a starting date until 3 months prior to opening, the start of the bedding period is a big hint about opening date.... but even then we will have to see how well the full test performs.
- Paul