Maca Limited Receives Letter Of Award From First Quantum

  • Nov 20, 2019 AEDT
  • Team Kalkine

Maca Limited (ASX: MLD) has received a Letter of Award from FQM Australia Nickel Pty Ltd (‘First Quantum’), a subsidiary of First Quantum Minerals Ltd, with respect to Open Pit Mining Services at the Ravensthorpe Nickel Project. Mobilisation to site is expected to start in December and operations in January.

  • The project will consist of open pit mining services including drilling and blasting, and loading and hauling;
  • It is expected to generate ~$480 million in revenue for MACA over the initial 5-year term;
  • The FY20 revenue is now expected to be ~$770 million.

At AEST 01:33PM, the stock was trading at $1.06 per share, up by 4.9% from its previous close.


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