Australia's Elsight rises on contract with Brazil-based firm

Elsight

07/07/2022 04:48

** Shares of Elsight  ELS.AX  rise as much as 9.6% to
A$0.400 - set for best session since May 30, if gains hold
    ** ELS signs https://www.asx.com.au/asxpdf/20220707/pdf/45bmrt6js1dzvp.pdf
 commercial contract for its "Halo" bonded connectivity solution
for controlling drones beyond the visual line of sight (BVLOS)
    ** Co receives preliminary order from Brazil-based drone
package delivery services provider Speedbird Aero
    ** Minimum contract value for 2022 is $72,000 with the
potential to reach about $520,000 during 2023
    ** Contract term with Speedbird Aero expires at the end of
2023 with an option to extend further
    ** Stock down ~4% this year as of last close 
    


 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))