3D metal printer Aurora Labs soars 75pc after teaming up with engineering giant

Pic: Morsa Images / DigitalVision via Getty Images
Aurora Labs (ASX:A3D) has surged more than 75 per cent this week after finalising a deal with engineering giant WorleyParsons to sell 3D metal printers to major infrastructure, mining and resource companies.
The deal was first announced in January when Aurora’s shares were trading above $3.
Since then Aurora’s shares have been in steady decline — but this week they’ve soared from 56c on Monday before the announcement to 98.5c at the close on Tuesday.

Aurora will team up with $4 billion Australian engineering group WorleyParsons (ASX:WOR) to create a joint venture “Solution Centre” providing manufacturing services to major industries.
Aurora plans to sell machines and services to clients of WorleyParsons, as well as establishing a business that sells 3D templates for printing. On-demand 3D metal printing can help companies reduce inventories of spare parts.
“We are extremely pleased that since working with WorleyParsons in January, our collaboration has now resulted in a clearly defined arrangement,” chairman David Budge told investors.
“This is a validation of the impact 3D printing will have, and of the technology we are developing.”
The hardware maker is mainly focused on small form-factor printers, but is developing bigger models it hopes will be ready by the fourth quarter.
Aurora reported only $6000 in sales in the September quarter, but burned more than $2 million, leaving $3.2 million in the kitty.
UNLOCK INSIGHTS
Discover the untold stories of emerging ASX stocks.
Daily news and expert analysis, it's free to subscribe.
By proceeding, you confirm you understand that we handle personal information in accordance with our Privacy Policy.