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  • OTOC Limited Is A Share On A Tear 0 comments
    Aug 5, 2013 10:20 PM

    Resources and infrastructure services provider OTOC Limited's (ASX: OTC) shares have continued to rally since winning several new contracts recently.

    OTC closed yesterday at $0.072, which is a 64% gain since late May, with the share price rise spurred on in late July following the company's wholly owned subsidiary Whelans Australia being awarded contracts totalling $4.3 million.

    SKM has contracted Whelans to provide survey services worth $3.8 million for Rio Tinto's (ASX: RIO) Expansion Project at Cape Lambert Port B Project with works to commence immediately.

    The $0.5 million aerial acquisition works involve capturing aerial imagery throughout Western Australia for LandGate as part of their State Land Information Capture (OTC:SLIC) Program for 2013/14.

    Other recent OTC deals include the company expanding its Facilities Division with the acquisition of the remaining 50% of a 700 person commercial kitchen/diner facility in the Pilbara for $2 million.

    The kitchen's EBITDA contribution is forecast at $1.5 million for the financial year ending 30 June 2014.

    Earlier in the year OTC was awarded a $28.7 million contract for the Nauru Processing Centre, providing the company with a gateway into the government construction sector - while diversifying its earnings.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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