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VYSARN LIMITED — Capital/Financing Update 2019
Sep 26, 2019
66029_rns_2019-09-26_af51d911-662a-4329-bb29-9d71dc318d62.pdf
Capital/Financing Update
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ASX:VYS
27 September 2019
VYSARN TO PROVIDE WATERWELL SERVICES TO ANGLOGOLD ASHANTI AUSTRALIA
Vysarn Limited (ASX:VYS) (Company ) is pleased to advise that its wholly owned subsidiary Pentium Hydro Pty Ltd (Pentium) has entered into a Major Services Contract (Contract) to provide dual rotary drilling and waterwell construction services at the Joint Venture Tropicana Gold Mine in Western Australia. Tropicana is owned by AngloGold Ashanti Australia (AGAA) (70% and Manager) and Independence Group NL (30%).
Under the Contract Pentium will drill and construct de-watering at various locations at the Tropicana mine site including the bore fields, Tailings Storage Facility (TSF) and open pit areas.
Pentium has commenced procurement of the long lead time materials with mobilisation of the drill rig and auxiliary plant to be completed by early October. The scope of work is expected to commence shortly thereafter and be complete by mid December 2019.
Pentium Managing Director Mr Sheldon Burt said
“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. We are delighted to be working for a company of AngloGold Ashanti’s standing"
Sheldon Burt Executive Director Vysarn Limited Telephone: +61 8 9486 7244
Investor Relations: Andrew Rowell Cannings Purple Tel: +61 400 466 226
Vysarn Limited | ABN: 41 124 212 175 | ACN: 124 212 175 | 108 Outram St, West Perth, WA 6005 | PO Box 1974, West Perth WA 6872 T +61 (0) 8 9486 7244 | F +61 (0) 8 9463 6373 | E [email protected] | vysarn.com.au