Australia's Macmahon gains on mining contract extension for Indonesia project

Macmahon Holdings

31/03/2023 03:44

** Shares of Macmahon Holdings Ltd  MAH.AX  rise as much as
7.4% to A$0.145 - set for best day since Dec. 22, 2022, if gains
hold
    ** Mining services co says extended mining contract with PT
Agincourt Resources for the Martabe gold project in Indonesia
    ** Says seven-year extension is expected to generate revenue
of $350 mln during contract period
    ** MAH at its highest level since March 15 
    ** Stock down ~7% YTD, as of last close

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))