VDM's share price has been hammered since it released an extremely disappointing interim result for 2008-09. Although recent positive news has sparked a rebound from less than 20¢ to yesterday's closing price of 30.5¢, it is a far cry from the $1.80 VDM was trading at less than 12 months ago. New contracts have sparked VDM's revival - in particular the company's involvement in the development of Sino Iron's Cape Preston mine. This is a joint venture with NRW Holdings that should generate revenues of $120 million for VDM. The company has been awarded more than $150 million in contracts in the last six months, representing about 30 per cent of 2007-08 revenues - a record year for the company. Although recent events have helped provide some medium-term earnings visibility, regaining investor confidence will be important for a sustained share price revival. The earnings fall reflected in VDM's interim result was unexpected, despite glum news coming from the mining sector. Management appears to be aware of the importance of providing up-to-date, accurate guidance; the company recently appointed a new chief executive officer.