MACA to sign $450m Regis deal

Mining services provider MACA says it is about to sign a $450 million, eight-year deal with Regis Resources for its proposed Garden Well gold mine.

The contract award is still subject to a number of conditions, including satisfactory completion of a definitive feasibility study for Garden Well, statutory approvals, approval from the Regis board, and final negotiation of contract terms.

MACA will provide civil works, drilling blasting and load and haul services for Regis, which has provided MACA with a letter of intent to enter into the contract, expected to be in the order of $450 million over eight years.

"We are delighted to have received the letter of intent and we are looking forward to expanding our relationship with Regis Resources and assisting them with the Garden Well gold project," MACA managing director Chris Tucker said.

MACA is currenty providing mining services for Regis at its Moolart Well project, north of Laverton.

MACA's stock slipped 2.3 per cent today, to close trading at $2.50.