Macmahon secures $98M extension at Daisy Milano

• Macmahon Holdings secured a two-year contract extension valued at approximately $98 million from Vault Minerals.
• The company expects the agreement to add $98 million to its order book without altering its FY27 guidance or capital expenditure budget.
• The extension prolongs mining operations at the Daisy Milano Gold Mine to late 2028, expanding Macmahon's underground mining portfolio.

Macmahon Holdings (ASX:MAH) secured a two-year, $98 million contract extension to continue underground mining services at the Daisy Milano Gold Mine in Western Australia from Vault Minerals (ASX:VAU).

The new agreement extends Macmahon's operations at the site through October 2028, building on work the contractor has performed at the mine since 2024.

"This outcome reflects the professionalism, capability and commitment of our people on site, who have consistently delivered safe and reliable operational performance while supporting the ongoing success of the operation," said Macmahon Managing Director and CEO Michael Finnegan.

Under the terms of the agreement, Macmahon Underground Pty Ltd will provide mine development, charging, loading, and haulage services.

Macmahon stated that its capital expenditure budget and FY27 financial guidance remain unchanged.

Following the announcement, the Macmahon share price was unchanged at $1.00.

The extension contributes directly to growing the contractor's total order book across its core underground and surface mining operations.

Macmahon continues to expand its broader service portfolio across mining and civil infrastructure projects throughout Australia and Southeast Asia.