- Vysarn has added another contract to its roster, with the latest a major works job with Anglogold Ashanti
- Vysarn’s wholly-owned subsidiary Pentium Hydro will provide de-watering and drilling at Anglogold’s Tropicana Gold Mine
- The Tropicana mine is located 330 kilometres north-east of Kalgoorlie, treating 5.5 megatonnes of gold in 2018 with average cut off grades of 0.7 grams per tonne
- Pentium’s work is expected to be in full swing during early October, with a finishing date for mid-December this year
Materials company Vysarn announced a major services contract today with Africa’s largest gold explorer, Anglogold Ashanti.
Vysarn’s wholly-owned subsidiary, Pentium Hydro, will provide dual rotary drilling and water well construction at Anglogold’s Tropicana Gold Mine in WA.
Tropicana is a joint venture project, owned in 70 per cent by Anglogold with working partner Independence Group holding the remaining 30 per cent.
Pentium Hydro Managing Director Sheldon Burt attributed the major contract to the company’s recent acquisitions of assets.
“This is the fourth rig mobilised by the company in less than a month since acquiring the hydrogeological drilling assets from Ausdrill and confirms the Board’s confidence in the underlying demand for the company’s assets and services,” he said.
Pentium’s work under the contract will see drilling and de-watering across Tropicana’s bore fields, storage facilities and open pit areas.
Operations by Pentium are expected to take full swing in early October, with a mid-December completion for this year in mind.
“We are delighted to be working for a company of AngloGold Ashanti’s standing,” Sheldon added.
The Tropicana project is located 330 kilometres north-east of Kalgoorlie and first poured gold in September of 2013.
In 2018 the Tropicana project treated 5.5 megatonnes of gold, with an average cut off grade of 0.7 grams per tonne.
Productivity on the site has improved over the years, as well as costing $15 million less last year than during 2017.
Since the announced work this morning, Vysarn’s shares on the ASX have climbed 8.47 per cent to 6.4 cents per share.
Large-cap Anglogold Ashanti’s shares have buckled 0.65 per cent today to settle at $6.12 apiece.