PB
At http://www.riotinto.com/documents/180801_Rio_Tinto_2018_half_year_results.pdf one can read that RIO's “sustaining capex” in 2018 was about $1m, and in the next two years it should be in the range of $2m to $2.5m per year. I am not a greedy bloke, and I am fearful of humongous contracts, so new RIO contracts valued at about $350M per year is all I ask the Great Provider to flick to NWH for FY19, FY20 and FY21. I think we only landed Marandoo ($37M) and the ECI ($?) from RIO in FY18. For the want of a number, I sucked $100m out of my thumb for the ECI contract,but I have no basis for that number other than that the contract was deemed significant enough to warrant an Announcement, and the ECI for Oz Minerals at Carrapateena was valued at $111M. Also, I recall thinking that announcing the Marandoo contract seemed out of place as an Announcement because it was only $37M.
In the absence of a bad-news Announcement, the next significant Announcement should edge the SP close to the much-wished-for $2, IMO.
PB At...
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