Perth FX - my understanding was that Koodaideri implementation was always a long term thing not expected at least until FY15 (with the decision now not expected before 2016 according to Rio's announcement) and that Calibre only had the study award for Koodaideri (valued around $30m according to their July announcement) in their FY14 outlook. Further presumambly alot of that is already booked?
In any case, I think the key will now depend on which providers win the various bits of confirmed brownfields expansion activity which Rio have now said forms the focus of their Pilbara expansion pathway over the next couple of years...that's alot of brownfields volume expansion and despite the emphasis on "low cost productivity improvements", it should still be a nice revenue injection for the sector.
Funny comment about E-Tec, but as you say not at all materially relevent, given Calibre's announcement said E-Tec is a 21 person consultancy with forecast FY13 revenue of $4.4m. Certinaly aint going to create any balance sheet risk! But still seems an interesting strategic move in line with their diversification strategy...
CGH Price at posting:
37.0¢ Sentiment: None Disclosure: Not Held
