3 stories mentioning ASX:MAHUpdated 23d ago
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Macmahon's (ASX:MAH) Macmahon Underground subsidiary secured a 12‑month contract extension with a Black Cat Syndicate (ASX:BC8) unit for underground mining services at the Majestic Mine in Western Australia, according to a Wednesday filing with the Australian bourse.
Macmahon (ASX:MAH) is proceeding with a solid order book and pipeline despite broader economic uncertainties, adding confidence that it will meet fiscal 2026 forecasts, Euroz Hartleys said in a note on Wednesday.The investment firm said the miner has AU$25.6 billion in tender pipeline, of which AU$14.4 billion is expected to convert over the next 12 months, providing additional support for its 2027 outlook, which Euroz Hartleys is now rolling forward.The brokerage expects the company to log in annual revenue of AU$2.6 billion to AU$2.8 billion and EBITA of between AU$180 million and AU$195 million.Macmahon is targeting AU$750 million in underground revenue and 15% to 20% of total revenue coming in from its Indonesia business by the end of fiscal 2028.If surface mining holds steady at around AU$1 billion and civil works eventually reach about $1 billion over the medium term, total revenue could potentially rise to around $3.5 billion, leading to EBITA of over AU$250 million, the firm added.Euroz Hartleys maintained its buy rating and raised price target to AU$1.10 from AU$0.76.
The Central Tanami Project Joint Venture, in which both MGX Resources (ASX:MGX) and Tanami Gold (ASX:TAM) hold a 50% interest, selected a unit of Macmahon Holdings (ASX:MAH) as the preferred mining contractor for the construction of the exploration decline at the Groundrush gold deposit in the Northern Territory, according to separate filings with the Australian bourse on Tuesday.Macmahon Underground will conduct around 3,500 meters of exploration decline development and portal and vent establishment, with the work valued at around AU$38 million. The work is expected to start in the September quarter and extend for a 14-month period.The appointment of Macmahon remains subject to finalization and execution of a binding agreement.
