Australia's Swift Networks hits 2-week high on deal with Mineral Resources
17/10/2022 02:06
** Shares of Swift Networks Group SW1.AX rise as much as
15.4% to A$0.015, their highest since Sept. 28
** Co secures A$3.4 mln ($2.11 mln) three-year agreement
with iron ore-lithium miner Mineral Resources MIN.AX to
service the latter's nine mine sites
** Says revenues from agreement are expected to commence in
H1 of FY23
** Stock down ~27.8% this year as of last close
($1 = 1.6077 Australian dollars)
(Reporting by Upasana Singh in Bengaluru)
((Upasana.Singh@thomsonreuters.com))