Vysarn Limited subsidiary, Pentium Hydro, is to carry out drilling of dewatering wells at Iluka’s Cataby mine site in Western Australia following the award of a contract with Iluka Resources.
The contract has an estimated value of A$1.74 million ($1.31 million) and, based on the current scope, is expected to be completed by the end of 2021. Pentium plans to mobilise to site next month.
Vysarn Managing Director, James Clement, said: “Of note, this work now provides a contract pipeline exceeding the capacity of Pentium’s current fleet of 12 rigs in the first half of the 2022 financial year. Management intend to lease or enter into hire purchase arrangements to execute the work in hand with additional drill rigs.”