** Shares of Papyrus Australia PPY.AX rise as much as 75% to A$0.014, posting their biggest intraday pct gain since late August

** Stock hits highest level since September 1

** Waste processing firm secures contract from TBS Mining Solutions, a unit of Aquirian Ltd AQN.AX

** Contract for manufacture and supply of biodegradable mining solutions product Collar Keeper, co expects revenue of about A$4.2 million ($2.75 million) from contract

** About 6.1 million shares change hands, 6.8 times the 30-day average

** Stock down 14.3% YTD, including the day's moves

($1 = 1.5300 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))