cockatoo coals contract could bea$50m annually

Extract from a research report from MERRIMAN CURHAN FORD

On July 30, Industrea announced that its subsidiary Huddy’s Mining
Services won a A$30M per annum contract to provide a fully integrated
range of services for Cockatoo Coal’s Baralaba Coal Mine in
Queensland. The contract runs for 18 months with an 18 month extension.
Cockatoo Coal currently plans to more than double production at
Baralaba in the next 2-3 years. Huddy’s contracts are based on a combination
of set hourly rates and the amount of earth moved. If the
Baralaba expansion proceeds as expected, Huddy’s revenues from this
contract could eventually increase to over A$50M annually.