MLG Oz lands c$50m of new work

Kalgoorlie-based mining services contractor MLG Oz has added more than A$50 million of work with three regional gold sites.

The Australian Securities Exchange-listed company said a two-year haulage and site services contract extension with Ora Banda Mining worth an estimated $30 million continued its connection with the Davyhurst gold mine near Kalgoorlie.

A circa-$17 million order from Gruyere gold mine half owner Gold Fields for construction works on the mine’s tailings storage facility remained subject to final negotiation of terms. Gold Road Resources has the other 50% of Gruyere.

An initial four-month haulage contract with Bellevue Gold is worth about $4m.

MLG Oz earlier this year reported a 23.9% year-on-year increase in first-half revenue to $175.9m, while net profit was 40.5% higher yoy at $2.6m.

MLG Oz’s share price is up more than 27% in the past month to A74c, capitalising the company at about $108 million.

 

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