Australia's WestStar Industrial hits 3-mth high on Lynas contract

Weststar Industrial

10/11/2021 24:37

** Shares of mining services provider WestStar Industrial
 WSI.AX  jump as much as 16% to A$0.029, their highest since
Aug. 17 
    ** WSI says its engineering construction business Alltype
Engineering was awarded a contract valued at ~A$12 mln ($8.88
mln) by Lynas Kalgoorlie Pty Ltd  urn:newsml:reuters.com:*:nASX9HZDq0
    ** Says contract for erection and installation of a kiln at
Lynas Rare Earths'  LYC.AX  processing facility in Kalgoorlie,
Western Australia
    ** The processing facility will treat rare earth concentrate
to produce rare earth carbonate
    ** WSI adds it is well-positioned for FY2022, with strong
order book and significant pipeline of new work identified
    ** Stock posts its biggest intraday pct gain since Oct. 15
    ** More than 7.4 mln shares change hands vs 30-day avg
volume of 2.3 mln shares
    ** WSI stock up 23.6% this year, as of last close    


($1 = 1.3517 Australian dollars)

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))