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MLG (ASX:$MLG) awarded new contracts by Gold Fields

MLG awarded new contracts by Gold Fields


MLG Oz Limited (ASX:$MLG) has been awarded new contracts by Gold Fields, including the provision of Site Services and Haulage at their Granny Smith gold mine, open pit mining services at St Ives for the Swiftsure deposit, and an extension of works at the Barren Lands open pit operation at Agnew. The contracts are expected to contribute significant additional revenue in FY24, further solidifying MLG's position in the mining services sector.

Executive Commentary


We are delighted to expand our integrated services model across Gold Fields' portfolio and to bring our site services expertise to their Granny Smith operations. MLG can now provide a consistent approach across all of Gold Fields' Australian mine sites. In addition, the award of the open pit mining scope of works at the Swiftsure deposit at St Ives, and the extension of works at the Barren Lands open pit operation at Agnew, acknowledges the breadth of service and overall capabilities across MLG's integrated operating model.

Summary


MLG (ASX:MLG) has secured new contracts from Gold Fields, expanding its integrated services model across Gold Fields' Australian mine sites. The contracts include the provision of Site Services and Haulage at Granny Smith, open pit mining services for the Swiftsure deposit at St Ives, and an extension of works at the Barren Lands open pit operation at Agnew. These contracts are expected to contribute approximately $9.0 million in additional revenue in FY24, with annual revenues anticipated to be circa $22.0 million per annum, subject to production volumes and commercial pricing. The projected revenue for the Swiftsure open pit mining services is circa $20.0 million, with the initial project expected to be completed in eight months. MLG's founder, Managing Director, and majority shareholder, Mr Murray Leahy, expressed delight in expanding their integrated services model and acknowledged the breadth of service and overall capabilities across MLG's integrated operating model. MLG's integrated business model offers clients a range of services under a single contractual framework, further solidifying its position in the mining services sector.

Sourcehttps://announcements.asx.com.au/asxpdf/20231206/pdf/05y7rhzvqgg78c.pdf

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