Australia's 29Metals jumps to 3-months high on mining contract renewal

29Metals

29/09/2022 04:00

** Australia's 29Metals Ltd  29M.AX  rises as much as 14.1%
to A$2.350, highest since June 15
    ** Co renews Underground Mining Services Agreement with
Byrnecut Australia Pty Ltd (https://bit.ly/3xXr6P6)
    ** Says contract for the Golden Grove mine in Western
Australia for another five years, commencing from Oct. 1
    ** Says renewed contract is on substantially the same terms
as the existing contract signed in 2017 and covers development
and production in the Gossan Hill and Scuddles mines at Golden
Grove
    ** Biggest intraday pct gain since Aug. 8
    ** Stock has fallen 32.9% this year, as of last close 
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))