Australia's K2fly eyes best day in 5-1/2 months on $2.5 mln Rio Tinto contract

K2FLY

05/10/2021 01:20

** Shares of Australia's K2fly Ltd  K2F.AX  climb as much as
10.71% to A$0.31 
    ** K2F records its biggest single-day percentage jump since
April 21, hits highest level since Aug. 12 
    ** Mining tech solutions provider announces A$3.44 mln
($2.51 mln) contract with Rio Tinto  RIO.AX , the world's top
iron ore miner  urn:newsml:reuters.com:*:nASXJ76Cr
    ** Says the contract is for one of its mining data
management products, which will be rolled out across RIO's iron
ore operations in the Pilbara region of Western Australia
    ** Says contract has annual recurring revenue of A$620,000
over the initial five-year term
    ** About 384,000 shares change hands, vs the 30-day average
of about 173,000 shares 
    ** K2F down 17.65% this year, as of Monday's close 

($1 = 1.3717 Australian dollars)

 (Reporting by Harshita Swaminathan in Bengaluru)
 ((Harshita.Swaminathan@thomsonreuters.com))