MACA Limited (Mining and Civil Australia)
MACA Limited (Mining and Civil Australia)
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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.
After producing a steady June 2015 (FY2015) after tax net profit of $A54.4M in a tough environment, down 1.8% on 2014, Western Australian-based mining/civil contractor MACA has flagged a drop in FY2016 revenue to $450M+ from the latest $601.4M.
Aussie contractor MACA flags potential $250M FY2016 revenue fall after steady FY2015 $54.4M profit in a tough environment
Australian contractor MACA has received a letter of intent from Avanco Resources to provide openpit mining services including drilling and blasting, loading and hauling at its Antas North copper project in northern Brazil.
The contract, which will be MACA’s second in Brazil behind its work for Beadell Resources at the Tucano gold mine, is expected to generate about $A120M revenues over 5 years.
Australian iron ore junior Atlas confirms it raised $A87.2M through its offer of shares at 5cps, part of a capital-raising to help it counter volatility in the iron ore and financial markets.
After Atlas reached innovative shares for services deals with major suppliers and service providers in May, contractors now comprise four of its top 7 shareholders – BGC Contracting with 17.33% (1), McAleese Resources 10.51% (2), MACA Mining 3.6% (6) and QUBE Bulk 3.48% (7).