VYSARN TO PROVIDE WATERWELL SERVICES TO FMG & MOBILISES RIGS TO BHP'S OLYMPIC DAM
Kicking more goals...
Vysarn Limited (ASX:VYS) (Company) is pleased to advise that its wholly owned subsidiary
Pentium Hydro Pty Ltd (Pentium) has received a purchase order for Hydrogeological Borefield
and Construction Services from Chichester Metals Pty Ltd (Principal), a subsidiary of Fortescue
Metals Group Limited for $800,000. Under the purchase order, Pentium will provide services to
the Principal at its iron ore mine in Cloudbreak in the Pilbara region of Western Australia. Pentium
and the Principal are in discussions regarding a formal agreement for Pentium to provide
Hydrogeological Borefield and Construction Services to the Principal. The Principal has issued
the purchase order in the interim to enable Pentium to commence mobilisation.
Pentium has commenced mobilisation of the drill rig and auxiliary plant which will be used to
service the purchase order, and subject to final inspection of the equipment to be carried out in
Newman, Western Australia over the next 7-14 days will then complete the mobilisation to the
Principal's site at Cloudbreak. Pentium anticipates commencement of drilling services to the
Principal by the end of September.
Additionally, the Company advises
that further to its dry hire agreement
for two drill rigs with Easternwell WA
Pty Ltd (Easternwell) as announced
on 16 August 2019, the first rig has
arrived on site at BHP's Olympic Dam
mine in South Australia and the
second rig has been despatched from
the Company's yard In Canning Vale.
The Company expects these rigs will
be operating and income producing
during the month of September