The SPP annoucnement confirmed the figures that IDL are now supplying the RIO coal mine at Mt Thornley around $40M per annum add to this the Cockatoo contract at $30M pa .. these are solid chunks of revenue ,,, which together with the China order stream should position IDL for a great two years of returns.
This 40M at RIO whilst it is covered in the SPP documentation didn't come out as a separate announcement as it was a contract extension - a nice one at that - to me it shows RIO is happy with huddy's hence the uplift in work.
The 70M in the bowen basin was all won this year ,,, whilst retaining the other Mt Isa work also - would be nice if handlebar hill were to come back on stream also.
Wouldnt be surprised to see another upgrade in target price in the research by the brokers covering this one ,,, now the SPP is put to bed and the funds are being employed.
rio coal contracts
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