Shares in mining services firm Aquirian (ASX:AQN) surged today (24 January) on news its subsidiary Western Energetics had won a three-year supply deal with Aurenne Group for the Mt Ida Gold Project in Western Australia.
The contract is worth around $20 million and is for the provision of an energetics and technology package.
The news sent shares up over 55% to an intra-day high of $0.28 just after 10am AEDT. Aquirian has a market capitalisation of $14.54 million.
Managing Director Greg Patching says Western Energetics will supply a package of energetic products, initiating systems, and its Collar Keeper drill technology.
“This tailored solution not only optimises blast outcomes but also eliminates ‘single use’ plastics, reduces costs, and enhances efficiency for our valued customers,” he says.
The Collar Keeper is a solution for stabilising blasthole cuttings, collars and the preconditioned column after drilling. The key aim of the technology is to significantly reduce redrills and provide better drilled depth retention.
Aquirian provides drill and blast solutions to clients globally to optimise blast hole outcomes, reduce costs, improve production efficiencies, and positively impact environmental performance.
Western Energetics, a wholly owned subsidiary of Aquirian, operates a facility in Wubin in Western Australia that provides storage, logistics, and energetic solutions.
Write to Angela East at Mining.com.au
Images: Aquirian
