Chrysos Corporation (ASX:C79) Partners with OceanaGold for PhotonAssay
Contract Announcement
Chrysos Corporation Limited (ASX:C79) has secured a contract with OceanaGold Corporation for the installation of a PhotonAssay™ unit at the Macraes Operation in New Zealand. This marks the first instance where a PhotonAssay™ unit will be leased by a mining company and operated on-site by a laboratory.
Operational Significance
The PhotonAssay™ unit is expected to be deployed in the second half of FY25. OceanaGold’s Macraes site is New Zealand’s largest active gold-producing mine. It has produced over five million ounces of gold since its operations began in 1990. SGS, a current customer of Chrysos, will operate the unit once installed.
Executive Comments
Dirk Treasure, Managing Director and CEO of Chrysos, expressed enthusiasm for the partnership, stating, “We are pleased to be working with OceanaGold on this new deployment model; not only does it grow PhotonAssay’s footprint in the Asia-Pacific region, but it increases our relationship with one of the world’s leading laboratory companies.” Mr Treasure elaborated on the leasing approach, highlighting its role in demonstrating the evolution of relationships within the mining and laboratory sectors, providing Chrysos with greater market flexibility.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Chrysos. The Motley Fool Australia has positions in and has recommended Chrysos. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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