Perenti's Contract Mining Division Secures New Contract and Extensions

Perenti Limited (ASX: $PRN) has announced that its subsidiary, Barminco, has been awarded a new development contract with Spartan Resources Ltd (ASX: $SPR) and extensions to four existing projects. The new contract involves the construction of an underground exploration drill drive at the Dalgaranga Gold Project in Western Australia, while the extensions cover projects in Burkina Faso, Canada, and Australia. These projects are expected to contribute approximately A$160 million of revenue to FY25.

Executive Commentary on New Contract and Extensions

Mark Norwell, Managing Director & Chief Executive Officer of Perenti, expressed excitement about the new opportunity presented by the Dalgaranga project, emphasizing its potential to evolve into a high-grade gold mine. He also highlighted the success rate of the Contract Mining division in extending and renewing contracts, attributing it to the critical importance of maintaining client relationships. Gabrielle Iwanow, President of Contract Mining at Perenti, conveyed the company's pleasure in collaborating with Spartan Resources on the Dalgaranga Gold Project, expressing eagerness to build a strong relationship with their team as they progress towards production.

Summary of Perenti's New Contract and Extensions

Perenti's announcement of the award of a new contract with Spartan Resources Ltd and extensions to four existing projects reflects the company's commitment to expanding its presence in the mining services sector. The new contract involves the construction of an underground exploration drill drive at the Dalgaranga Gold Project, presenting an exciting opportunity for future growth. The extensions to existing projects demonstrate Perenti's success in maintaining client relationships and delivering value. With these developments expected to contribute approximately A$160 million of revenue to FY25, Perenti continues to focus on creating enduring value and certainty for its stakeholders.