A subsidiary of Vancouver's FirstGrowth Exploration & Development Services Corp. (TSX-V:FGC) has signed its largest contract thus far with a private Saskatchewan potash exploration company.
FirstGrowth's Calgary-based Kinetex Inc. was awarded a $15.6 million contract that will involve the management, collection, processing and interpretation of a series of high resolution two-dimensional images over a 500,000-acre area. The client will then select areas to complete a three-dimensional scan to provide detailed underground maps of the geology and identify potential collapse zones.
The contract is equal to last year's gross annual revenue of the company, which provides high resolution subsurface images for the resource exploration and development industry.
FirstGrowth's share price range during the past week: between $0.43 and $0.52; 52-week high: $1.05; 52-week low: $0.39.