The company appointed Pacific Energy subsidiary Contract Power Australia as preferred contractor to build, own and operate the project's proposed power generation facilities.

Coburn's purpose-designed power infrastructure is based on low-cost, low-emission solution integrating natural gas fuelled generation with state-of-the-art solar and battery storage technology.

The proposed power solution enables Strandline to capture energy supply cost savings relative to the June 2020 definitive feasibility study.

The power station is designed suitable for a maximum demand capacity of 16 megawatts and average consumed power of about 10MW.

A joint venture between Woodside Energy (and EDL LNG Fuel to Power has been appointed as preferred contractor to supply LNG to the power station via road train from Woodside's Pluto LNG facility near Karratha.

The proposed LNG supply contract is over a 10-year term (with appropriate pricing review and adjustment mechanisms) and also enables Strandline to capture energy supply cost savings relative to the DFS.

"The company continues to move rapidly towards development of Coburn and these key contract appointments to well-credentialed suppliers provide delivery certainty," Strandline managing director Luke Graham said.

Strandline will now work on finalising documentation with the suppliers.

The company recently raised A$18.5 million to advance early works at Coburn.

The Northern Australia Infrastructure Facility is progressing due diligence for a $150 million loan.

Coburn has capital costs of $260 million and a payback period of just 2.1 years.

The project has a pre-tax net present value of $705 million (at an 8% discount rate), and an internal rate of return of 37%.

EBITDA over the initial 22.5-year mine life is expected to be $2.3 billion, or $104 million per year.

Strandline shares were unchanged at 19c, valuing the company at just under $100 million. The stock started the year at 11c.