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Mastermyne Group Limited (ASX:MYE)

ALERT: Price-sensitive ASX Announcement for MYE
Current share price for MYE : $0.540 0.13 (31.71%)+
Announcement
Release
5 Aug 2026 9:11AM
Price at Release
$0.410
Full Release
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Summary
Mastermyne Group Limited has announced the execution of a new mining services contract with GM3 for the Dendrobium underground coal mine in New South Wales. The contract has an initial term of 2 years with options for two additional 2-year extensions, potentially valuing the contract at $255 million over six years. Initial revenues are expected to be approximately $85 million over the first two years. This contract expands Mastermyne's current services at Dendrobium, adding over 140 new roles, and builds on their existing strata consolidation work. The project is set to commence in September 2026, and Mastermyne has expressed optimism about future growth opportunities in the East coast coal basins.
Key Points
  • New mining services contract executed with GM3 for Dendrobium mine.
  • Contract valued up to $255 million over 6 years with extension options.
  • Initial 2-year term with estimated $85 million in revenues.
  • Expansion of current services at Dendrobium, adding over 140 new roles.
  • Works scheduled to commence in September 2026.
  • Mastermyne's ongoing commitment to growth in East coast coal basins.
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.