A well timed announcement given the AGM tomorrow.
It's strange that, again, there are no revenue projections and no quote from Iluka's CEO, Tom O'Leary.
From the Iluka website: "Iluka retains approximately 900 direct employees plus a similar number of contractors." Even if they are charging an on-boarding fee of the full $200,it's still only $360k across the whole group, and this announcement is for, so far, only the Perth area North Capel plant.
A little more detail of the numbers and revenues would have been nice,a would have been Iluka's view of the deal. If it's only a small initial deal for the Perth area, then that should be made clear.
Still, it is a step in the right direction. Whether it is enough to instill confidence remains to be seen.
TKF Price at posting:
2.0¢ Sentiment: None Disclosure: Not Held
