Important notice and disclaimer This presentation and these materials (together the Presentation ) have been prepared by Perenti Global Limited ABN 95 009 211 474 (ASX:PRN) ( Perenti ) as a summary of Perenti s operations and results for the purposes of a presentation to existing or potential investors in Perenti. By participating in this Presentation or reviewing or retaining these materials, you acknowledge and represent that you have read, understood and accepted the terms of this Important Notice and Disclaimer. This Presentation should be read in conjunction with Perenti s 2021 half year report and 2020 and 2019 annual reports lodged with the Australian Securities Exchange ( ASX ) on 22 February 2021, 24 August 2020 and 29 August 2019 and other periodic and continuous disclosure announcements that have been lodged by Perenti with the ASX.
Here’s why the Perenti (ASX:PRN) share price lifted today
Aaron Teboneras | February 1, 2021 6:20pm |
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Perenti Global Ltd(ASX: PRN) share price climbed today on news the company has secured a major underground mining contract extension.
From a negative start in early trading, the Perenti share price shot up to an intraday high of $1.35 after the company announced the deal this afternoon. However, at the closing bell, its shares had slightly dipped to $1.34, up 3%.
What did Perenti announce?
The engineering company advised that its subsidiary, hard-rock underground miner Barminco, has been awarded a contract extension worth more than $200 million.
Perenti locks in $307m of contract wins
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Perenti Global has secured more than $307 million in new work and contract extensions with Evolution Mining, Gold Fields, Western Areas and Consolidated Minerals.
The contracts encompass four underground and two surface mining projects, the first of which is an eight-month contract with Evolution Mining at its Cowal gold operation in New South Wales.
This will provide Perenti subsidiary Barminco with its first entry into the state.
Both companies plan to further their relationship through Perenti’s participation in the Cowal underground feasibility study.
Additionally, Perenti won a 21-month contract for decline development at Gold Fields’ Wallaby operations at the Granny Smith mine in Western Australia.