Capital Ltd - mining services company - Majority-owned subsidiary and geochemical laboratory services provider MSALabs wins a contract worth $140 million over five years with US-based Nevada Gold Mines. Company expects annual revenue of $30 million once fully operational. Says deal, to ‘operate a state-of-the-art hybrid laboratory’, is the largest contract award in MSALabs’s history. Nevada Gold Mines also recently awarded a three-year drilling services contract to Capital Ltd, which becomes fully operational in 2025 and will generate approximately $35 million in annual revenue.

Capital Ltd also announces appointment of Aaron Austin as chief executive officer of Americas. Says Austin ‘will oversee our operations as we undergo expansion into the region and ramp up our new contracts at the Nevada Gold Mines complex’.

Current stock price: 84.00 pence, up 7.7% in London on Thursday

12-month change: down 14%

Copyright 2023 Alliance News Ltd. All Rights Reserved.