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#ASX Announcements
stale
Added 7 months ago

Snippet of today's announcement :


"Resource Development Group Ltd (RDG or Company), is pleased to announce that its wholly owned subsidiary, Central Systems Pty Ltd, has been awarded project work to the value of approximately $140m by Mineral Resources Limited subsidiary, CSI Mining Services on its Onslow Iron Project.

Work to be undertaken includes bridges/overpasses and approach roads, as well as concrete placement.

The project commercials were negotiated on an arm’s length basis with work to be completed by July 2024."


I find this particularly interesting as latest FY 23 annuals have rdg pulling $56m revenue. Digesting this news if there isn't an extra zero in that quoted project value work then $140m in revenue is a near tripling of annual revenue. This is in addition to ramping up Garnet operations which were not pulling any financial performance through June quarter.