Company Overview and News
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Swick Mining Services has raised about $5 million from investors to fund the buyout of minority shareholders in a mineral analysis and measurement technology company in which it already owns a major stake.
Swick Mining Services (ASX:SWK) has been granted a trading halt by the ASX, pending details of a capital raising.
Apart from that, I want to discuss a few mining equipment producers; in this issue I am writing about Caterpillar and Sandvik.
Swick Mining Services shares closed 14 per cent higher on the ASX today after the company announced it had been named the preferred proponent for underground drilling work for Newmarket Gold.
The halt will remain in place until the opening of trade on Monday 14th November 2016, or earlier if an announcement is made to the market.
A record high Australian dollar price in June has provided a tailwind for the state’s gold sector, and 2017 is looking to be a similarly positive year.