Veris secures new contracts

Digital and spatial services specialist Veris (ASX:VRS) has locked in more than $6.2 million in new contracts spanning several industries, including survey support for ‘tier one’ mining companies. 

The $36 million market capitalisation company says it has been contracted to deliver engineering surveys for a ‘range’ of capex, planned maintenance, and shutdown projects for plant, equipment, and facilities at operational mine sites in Western Australia. 

The new contracts bring Veris’ secured forward workload over the coming 12 months to roughly $60 million. Further to this, the company says its ‘identified unsecured project pipeline for delivery’ is roughly $190 million over the medium term. 

With this forward workload and project pipeline growing consistently over the past 2 years, Veris says its new contracts underpin the business’ momentum of improved financial performance. 

The mining-related contracts complement a major $1 million contract with John Holland Group for Veris to provide engineering survey services for Western Australia’s Rail Revitalisation Project (RRP). Work on this contract is slated to begin in March and last for 12 months. 

Veris Managing Director and CEO Michael Shirley says this contract win is consistent with the company’s strategy of focussing on national key clients and large projects.

“Our investment in high-value, specialist technology and skillsets for this type of work and our commitment to working closely with John Holland to deliver the best outcomes has been pivotal to securing the project.”

The company’s other contract wins include the delivery of some major airport upgrades in Queensland by providing its expertise in spatial documentation and Building Information Modelling (BIM) services. 

Veris has also been signed on to perform 3D laser scanning to underpin the building of a digital model of twin water pipelines in Warragamba, New South Wales. 

On top of these contracts, Veris has been commissioned for 3D ground-penetrating radar (3D GPR) survey work in Central Place Sydney, for mobile laser scanning and further 3D GPR work in Canberra, for a highway upgrade program using 3D GPR in Queensland, and for major defence site redevelopment work in South Australia and New South Wales. 

Veris says it recently invested in the ‘market-leading’ 3D GPR equipment which, to its knowledge, is one of only 2 of these types of units in all of Australia. 

Images: Veris
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Written By Joshua Smith
Joshua Smith has years of experience in the media sector, having worked as a markets reporter, features writer, and editor since completing a Communications and Journalism degree and a Creative Writing degree. Josh is an avid board game fan and a self-professed coffee snob.