Macmahon Holdings Limited ( ($AU:MAH) ) has issued an update.
Macmahon Holdings Limited has secured a $463 million contract to serve as the mining services contractor for the Awak Mas gold project in South Sulawesi, Indonesia. The contract, awarded by PT Masmindo Dwi Area, spans seven years with a potential five-year extension and involves open-cut mining activities such as drilling, loading, and hauling. This project will enhance Macmahon’s order book without altering its financial forecasts for FY25, highlighting a strategic utilization of existing fleet and low capital investment, ensuring continued stability in earnings and net debt position.
More about Macmahon Holdings Limited
Macmahon Holdings Limited is an ASX-listed company that provides comprehensive mining and civil infrastructure services in Australia and Southeast Asia. With a strong foothold in surface and underground mining as well as civil infrastructure, Macmahon is recognized as a preferred contractor in various sectors, including resources, non-resources, and renewables.
YTD Price Performance: -3.64%
Average Trading Volume: 2,500
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $450.9M
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