SRG Global wins $2.2m in new contracts from Northern Star
SRG to provide drilling and explosives management services in old of WA's oldest gold mining regions
Source: iStock
Mentioned
KEY POINTS
- SRG global locks in five-year contract with Northern Star at the latter’s WA Bronzewing gold play
- SRG also secured a two-year contract extension for two other gold projects in WA respectively
- SRG will provide drilling and explosives management services
SRG Global (ASX:SRG) shares were up 2% in the first hour of trade on Thursday after revealing its receipt of $2.2m in new contracts from gold miner Northern Star (ASX:NST).
Northern Star has commissioned SRG for the following:
Provision of drilling and explosives services at NST’s Bronzewing Gold project on a five-year contract basis
Two-year contract extension for drilling and explosives at NST’s Thunderbox and Carosue Dam gold projects respectively
Contract works at Bronzewing have already commenced, and activities at the latter two locations remain ongoing.
Historic neighbourhood
The Bronzewing project straddles the Yandal Greenstone Belt geological formation, which itself is located inside the larger Yilgarn Craton that underpinned WA’s early gold rush.
The contracts picked up today continue a relationship between both companies.
“I am very proud of our Mining Services team for their hard work supporting Northern Star’s operations at the Kalgoorlie Super Pit, Thunderbox, Carosue Dam and now the Bronzewing gold operations in WA,” SRG MD David Macgeorge said.
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Share price 73c*
Market cap $327.14m*
448.14m shares on issue
Average four week volume of 382,561 shares
One year returns up 62%
Year to date returns up 5.8%
Ranked 42 of 189 companies in the Industrials sector
Market Index broker consensus scan: four “Buy,” one “Hold”
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*As at 1055 AEST Thursday 2 February 2023
