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Orcoda (ASX:ODA) enjoys downhill day after signing long term contract with ski resorts
  • Logistics optimisation company, Orcoda Limited (ODA), has signed a nine year deal to provide transport services to Mt Buller Ski Resort customers
  • The contract will provide the company with $2 million - $3 million a year, with the contract made up of a five year agreement plus two two year terms
  • With the ski season sliding into action on June 22, the company will work with transport provider Busfleet to move patrons around the mountain
  • Orcoda Managing Director, Geoff Jamieson, said although the COVID-19 pandemic may cause havoc this season, the length of the deal will still prove to be beneficial for the company
  • The company bucked the trend of an icy day on the ASX200 and saw its share price jump 31.8 per cent following the announcement, and at market close the company was selling shares for 14.5 cents each

Orcoda (ODA), has seen its share price jump nearly 32 per cent after announcing a nine year contract to provide transport services to Mt Buller Ski Resort customers.

With the ski season sliding into action on June 22, the company will work with transport provider Busfleet to move patrons around the mountain effectively.

The contract will provide the company with $2 million - $3 million a year, with the contract made up of a five year agreement plus two two year terms.

If the agreement runs the full length of nine years, it could generate between $20 million - $30 million for the company despite COVID-19 travel restrictions currently in place.

"COVID-19 restrictions may have an effect on our achievements this ski season but the nature of this agreement should provide long term benefits to the customers of Mt Buller Resort and Orcoda stakeholders.”

Orcoda Managing Director, Geoff Jamieson.

The boost to the resources, healthcare and transport logistics optimisation company's share price today is a welcomed one.

Orcoda is trying to get back to where it was at the start of the year, cruising at 23 cents on January 10, before gradually declining and bottoming out at 8.9 cents at the end of April.

At market close, the company bucked the trend of an icy day on the ASX and saw its share price jump 31.8 per cent following the announcement, and is selling shares for 14.5 cents each


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