SRG Global wins $2.2m in new contracts from Northern Star

Thu 02 Feb 23, 11:23am (AEST)
Two gold nuggets (authenticity unknown) photographed in between three larger rocks against a dark background
Source: iStock

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. 

Want to know more? 

Market Index provides free company performance data anybody can use to learn information about SRG Global, including but not limited to: 

  • 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”

A look at SRG's one year charts
A look at SRG's one year charts

*As at 1055 AEST Thursday 2 February 2023

Written By

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication.

Get the latest news and insights direct to your inbox

Subscribe free