GR Engineering secures $50M conversion contract

• GR Engineering Services secured a $50 million engineering, procurement, and construction contract with Myamba Minerals.
• The agreement formalises full project delivery following earlier engineering works and ordering of long-lead items.
• The project aims to convert the Cosmic Boy Concentrator into a facility producing copper concentrate and gold doré.

GR Engineering Services (ASX:GNG) has signed a $50 million contract with Myamba Minerals, a subsidiary of Medallion Metals (ASX:MM8), to convert the Cosmic Boy Concentrator facility.

The contract follows initial progress on the site, where early engineering works and long-lead item orders had already commenced.

"We are pleased to have been engaged by Medallion to play a key role in the conversion of the Cosmic Boy Concentrator," said GR Engineering Services Managing Director Tony Patrizi.

Under the scope of work, the company will design, procure, construct, and commission the upgraded facility to enable output of copper concentrate and gold doré.

Following the announcement, the GR Engineering Services share price was unchanged at $6.59.

The agreement returns the contractor to the facility, having originally designed and constructed the Cosmic Boy Concentrator back in 2009.

The award expands the group's ongoing order book of engineering and construction projects across the Australian resources sector.