MACA Limited (Mining and Civil Australia)
MACA Limited (Mining and Civil Australia)
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Australian contractor MACA says improvements in mining activity and investor sentiment promise more growth after it lifted NPAT by 34% to $A16.6M for the Dec half-year (H1FY17). Revenue grew 16% to $242.5M, supporting expectations of over $500M revenue for the full year.
Australian mining and civil contractor MACA has expanded its business scope with the acquisition of 60% interest in privately owned Interquip, a provider of mineral processing solutions, equipment refurbishing, on-site maintenance and modular conveyor systems active in WA and the NT.
MACA will pay $A8M (70% in cash, 30% in shares) for a business that is expected to generate $17M revenue in the June 2017 half. Ops director Geoff Baker says the acquisition enables MACA to establish a structural, mechanical and piping offering to the mining sector.
Australian mining, processing and earthworks contractor MACA has recorded a 57% fall in NPAT to $A33.6M in the year to June 30, but says it could have been worse without its rebalancing of operations towards gold.
In a very challenging environment for the mining and civil sectors, revenue fell 28% to $431.4M and operating cash flow fell 53% to $64.1M. Current work in hand is strong at $1.16B and the company is seeing signs of recovery with improvements in mining activity and investor sentiment.
West Australian developer Blackham is targeting its first gold pour within 3 weeks at its 5.1Moz Matilda gold project, with contractor MACA mining ore at the M10 openpit and wet commissioning of the Wiluna processing plant to start this month.
PYBAR Mining Services has commenced underground development at the high-grade Golden Age orebody.
Still on time, Doray's contractor MACA has begun openpit mining at the 100%-owned, high-grade and low-cost Deflector gold-copper project in the southern Murchison region of Western Australia - less than 12 months after Doray completed the takeover of Mutiny Gold.
Deflector is forecast to produce an average 74,500oz pa over 6 years, with potential near-mine upside, supporting Doray's aim of annual production of 140,000oz gold plus copper and silver from Andy Well and Deflector at under $A1,000/oz AISC after by-product credits.
Mining contractor MACA is buying privately-owned fellow Western Australian mining-civil services contractor Alliance Contracting P/L for $A5M cash, lifting work-in-hand by about $50M to $1.2B.
Alliance has its head office in Perth, with operating depots in Karratha and Port Hedland and a number of contracts in WA, including with Metals X and Silver Lake Resources. It has net tangible assets of about $6M with hire purchase and debt facilities of $10M.
With openpit contractor MACA on site and starting work to refurbish the nearby Gullewa tailings storage facility, Doray says it's all on track for a mid-year start of production at its second operating mine, the 100%-owned Deflector project in Western Australia's southern Murchison region.
Openpit mining gets under way next month. Project development is ahead of schedule, with commissioning of the purpose-built 480,000tpa gravity/flotation processing plant starting in May and underground mining in June.
Contract miner MACA will extend its relationship with Regis Resources at the Moolart Well gold project in Western Australia with the award of an openpit mining services contract expected to generate $A115M revenue over 5 years.
The new contract covers drilling and blasting, loading and hauling at the expanded Moolart Well and satellite pits including Anchor, Petra, Lancaster, Dogbolter and Gloster. Operations director Geoff Baker says it's a testament to MACA's hard work at Moolart Well since Jan 2010.
West Australian miner Doray has issued a letter of intent for an openpit mining contract at its planned 74,500oz pa Deflector gold mine in the southern Murchison region to Perth-based MACA. The $A41M contract is for 11 months of Deflector's planned initial 6-year mine life.
MACA, which recently completed works on Doray's Andy Well mine, will mobilise to site early 2016 ready to begin mining services including drilling and blasting, loading and hauling in Feb.
Avanco remains on track for completion of pre-production mining and construction works to begin commissioning early in the Jan 2016 qtr at its $US60M Antas openpit copper development in northern Brazil.
Mining contractor MACA is well advanced on mobilising the mining fleet and pre-stripping of the openpit commenced. Antas is forecast to ramp-up to about 12,000tpa copper and 7,000oz pa gold, with concentrate off-take due to be executed in Dec.