Perenti wins big Cowal contract; announces share buyback

Top image :
Evolution Mining is looking to extend production at the Cowal gold mine in eastern Australia out to 2040 via a A$380m underground project.
Australian contractor aiming to restore FY20 margins

Australian mining and drilling services company Perenti expects to start a new A$520 million, four-year contract at Evolution Mining’s Cowal gold mine early next month and has meanwhile launched an on-market buyback of its shares.

Early market reaction to the buyback and contract news was positive with Perenti’s share price (ASX: PRN) up 18%, giving the company a market value of circa-A$580m. The price fell about 13% in the first five months of 2022.

This content is available to Paid Subscribers only. If you are already a subscriber, login using the panel below or visit our Subscribe page to view subscription packages and/or Subscribe now.
Latest News
[stock-market-ticker]
Auto-mateMrecOct2021

Not registered? Register Now

Powered By MemberPress WooCommerce Plus Integration