Mastermyne signs underground construction contract

Company News

Mastermyne Group Limited (ASX:MYE) has announced it has executed a contract for Underground Roadway Development Services with a global mining company.
 
The new contract win was flagged in the full-year result of the underground coal contractor on the 18th of August.
 
The initial term of the contract is two years and Mastermyne can expect to generate revenue of between $10 million and $12 million a year from the contract.
 
The company will perform the construction of underground roadways for mine infrastructure both in seam and out of seam.
 
Mastermyne reported a loss of $4.35 million at 30 June. 

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