Australia's EQ Resources gains on signing mining services agreement

EQ Resources

29/05/2023 04:11

** Shares of Australia's EQ Resources Limited  EQR.AX  rise
as much as 9.5% to A$0.069, set to mark best day since May 18,
if gains hold 
    ** Stock hits highest since May 22 
    ** Mineral explorer says it has executed a mining services
agreement with Golding Contractors Pty Ltd, a unit of NRW
Holdings  NWH.AX , for restarting open pit mining operations at
Mt Carbine 
    ** Adds committed contract period is 70 months for an
estimated value of A$179 mln ($121.42 mln)
    ** NWH shares also up as much as 1.8%    
    ** EQR has risen 31.3% this year, as of last close


($1 = 1.4743 Australian dollars)

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))