Australia's Perenti at near 5-year high on unit securing $656 mln contract

Perenti

23/05/2025 06:04

** Australian mining services provider Perenti Ltd PRN.AX extends gains to add as much as 6.5% to A$1.590, its highest level since early-June 2020

** PRN says unit secured a 5-year contract of A$1.02 billion  ($656.06 million) through a joint venture announced on Tuesday

** Says contract with U.S.-based miner AngloGold Ashanti AU.N for the delivery of underground mining services at the Obusai Gold Mine in Ghana

** Nearly 3 mln shares changed hands vs 30-day average of ~1.9 mln

** Shares rise for six-straight days, adding 14% in value so far this week

** Stock on track for its best week since mid-December 2022

** Stock is up nearly 13% YTD, including the session's gains

($1 = 1.5547 Australian dollars)

 (Reporting by Anjali Singh in Bengaluru)

 ((Anjali.Singh2@thomsonreuters.com;))