Shares in mining contractor Macmahon Holdings have touched a new high for the year after the company reported a strong interim profit and upwardly revised its revenue and earnings guidance for the full financial year.
Macmahon Holdings has received a letter of intent from Silver Lake Resources for further work at the Mount Monger gold operations, including development of the new Santa mine.
Our daily board moves wrap includes Amanda Buckingham, Bruce Munro, Hamish Tyrwhitt, Michael Finnegan, Andy Viner, Bilyana Smith, Andrew Hagen, and Anthony Brown.
Macmahon Holdings and Newcrest Mining are heading towards a legal battle, after talks over a mining services contract dispute at the Telfer gold mine fell through.
Mining services firm Macmahon Holdings has acquired underground mining contractor GBF, which currently has around $266 million worth of work in its order book.
Macmahon Holdings has flagged the possibility of a $25 million to $35 million provision against its contract at the Telfer gold project amid ongoing negotiations with the project's owner Newcrest Mining.
Tropicana gold project joint venture partners AngloGold Ashanti and Independence Group have approved the development of a new underground mine at a cost of $105 million.
Macmahon has reported a strong half-yearly result, but MACA and GR Engineering have seen their profit plunge compared to the prior corresponding period.
Macmahon Holdings has posted strong profit growth for the year to June, adding to a string of good results for local mining services companies, including Lycopodium and NRW Holdings.
Mining contractor Macmahon Holdings has announced that Giles Everist is moving from a non-executive director role to become the company's chief financial officer.
Macmahon Holdings chairman Jim Walker said the contract miner would focus on executing its growth plans after shareholders voted overwhelmingly today in support of a tie-up with Indonesian company PT Amman Mineral Nusa Tenggara (AMNT).
Macmahon Holdings has finalised documentation for what is a potentially transformational deal with Indonesia's PT Amman Mineral Nusa Tenggara, two months after announcing a heads of agreement in the midst of a hostile takeover battle.
A suite of contract announcements has been made for Gold Road Resources' $507 million Gruyere project, including for GR Engineering Services, Maca and Civmec, while Macmahon Holdings said today it had been selected as preferred contractor for a new Queensland coal mine.
CIMIC Group's takeover bid for mining services provider Macmahon Holdings has become more complicated after Macmahon signed a heads of agreement that could give Indonesian miner Amman Mineral Nusa Tenggara a 44 per cent stake in the company.
Macmahon Holdings has called out CIMIC Group for what it says is a low-ball takeover bid, saying the Spanish-controlled company should be aware of the improving market for mining services.
Macmahon Holdings has been chosen by an Indonesia-based company to asses options to expand a copper-gold mine, and has been named preferred contractor under a three-year term if plans to expand go ahead.
Gold miners operating in Western Australia performed solidly in the three months to December, with Northern Star Resources, Independence Group and Evolution Mining all posting strong results.
Macmahon Holdings has unveiled the remuneration package for new chief executive Michael Finnegan, adding to a trend in the contracting sector for lower base salaries but greater potential for bonuses.
Sybrandt Van Dyk has announced his resignation as chief executive of Macmahon Holdings, with general manager of surface mining Michael Finnegan to succeed him as head of the local contractor.
