,KUALA LUMPUR: Minetech Resources Bhd’s shares rose in early trade Friday after securing a RM70mil mining job contract extension. 2.33%, or 0.5 sen to 22 sen, its highest in three weeks, with 13 million shares exchanged hands. Minetech has secured a contract extension worth RM70mil for waste removal, ore delivery and associated works for open pit mining at the Selinsing Gold Mine Project. Minetech’s wholly-owned subsidiary Minetech Construction Sdn Bhd had entered into an agreement with Able Return Sdn Bhd and Damar Consolidated Exploration Sdn Bhd for the contract renewal. It said the contract renewal was for the Selinsing gold mine project in Pahang, and it will be for a period of 36 months from July 1, 2020 to June 30, 2023. Minetech expects the contract to contribute positively to the revenue, earnings and net assets of the group for the financial year ending March 31, 2021.
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