Australia's WestStar Industrial hits 2-yr high on contract win

Weststar Industrial

28/07/2021 05:45

** Shares of industrial resources firm  WSI.AX  jump as much
as 36.7% to A$0.041, their highest since July 2019
    ** Co says its engineering contract business, SIMPEC,
secured a A$145 mln ($106.72 mln) contract from Iron Bridge
Magnetite Project  urn:newsml:reuters.com:*:nASXbTxt8k
    ** Contract is for construction of a wet process plant to
produce magnetite concentrate product in Western Australia
    ** Stock posts its biggest intraday pct. rise since December
2020
    ** Trading volume of 80.9 mln shares ~14x the 30-day avg. of
5.9 mln 
    ** Stock up 36.4% this year, as of last close

($1 = 1.3587 Australian dollars)

 (Reporting by Yamini C S)
 ((Yamini.CS@thomsonreuters.com;))