Contract loss won't hurt MACA
Shares in MACA were higher after the company reiterated full-year revenue guidance despite the mining contractor being affected by the suspension of operations at the Paroo Station lead mine in the Goldfields.
MACA said it would meet with Ivernia subsidiary, Rosslyn Hill Mining, to discuss the contractual implications of the mine's move to care and maintenance.
Ivernia decided to halt operations at Paroo because of the falling lead price.
MACA said the Paroo contract was its smallest full service mining contract by monthly revenue and capital employed.
On the upside, the contractor also announced it had secured a $9 million contract with Doray Minerals for the company's stage two Andy Well project.
The six-month contract, to begin this week, will involve open-pit mining services including drilling, blasting, loading and hauling.
MACA said the aggregate affect of the contracts meant it could reiterate previous full-year revenue guidance of more than $650 million.
Shares in the company were up 3.5 cents, or 3.7 per cent, to 98 cents at 8.25am.
