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Mastermyne Group Limited (ASX:MYE)

ALERT: Price-sensitive ASX Announcement for MYE
Current share price for MYE : $0.345 0.205 (146.43%)+
Announcement
Release
28 Aug 2025 10:11AM
Price at Release
$0.140
Full Release
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Summary
On July 18, 2019, Mastermyne Group Limited announced a series of contract wins, extensions, and renewals in Queensland’s coal mining industry, including a significant two-year, $60 million extension at Moranbah North mine. Further contracts were secured at Glencore’s Oaky North and Oaky Creek sites, as well as at Anglo American’s Grosvenor and Aquila mines, boosting the company’s order book and revenue outlook into FY20 and FY21. The company credits its strong safety and operational performance for these wins and remains optimistic about further opportunities in the sector.
Key Points
  • Mastermyne Group Limited (MYE) has provided an update on recent contract awards and renewals.
  • The company has been awarded a number of new contracts in Queensland’s coal mining sector.
  • Mastermyne secured a major contract extension at Anglo American’s Moranbah North mine with an estimated value of $60 million over two years.
  • Additional contract extensions and new works have been awarded across both existing and new clients, increasing Mastermyne’s secured order book.
  • Recent contracts include development, outbye, and secondary support works at Glencore’s Oaky North and Oaky Creek sites, as well as new secondary support work at Anglo American’s Grosvenor and Aquila mines.
  • The contract wins and renewals will provide strong forward revenue visibility into FY20 and FY21.
  • Mastermyne attributes the contract success to its strong safety record, operational performance, and reputation in underground coal contracting.
  • The company notes a continued high level of tendering activity, with a positive outlook for further contract opportunities.
  • Mastermyne believes it is well positioned to benefit from ongoing investment and project activity in the underground coal sector.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.