NCM 1.03% $34.45 newcrest mining limited

News: NCM Macmahon Updates On Facilitated Negotiation With Newcrest Mining On Telfer Project

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    Aug 6 (Reuters) - Macmahon Holdings Ltd (MAH) :

    • UPDATES ON FACILITATED NEGOTIATION PROCESS WITH NEWCREST MINING LIMITED REGARDING TELFER PROJECT
    • GIVEN NEGOTIATIONS THAT HAVE OCCURRED, MACMAHON WILL NOW SEEK NEWCREST'S AGREEMENT TO PROCEED TO LITIGATION IMMEDIATELY
    • MACMAHON - ELECTED TO CONTINUE TO PERFORM TELFER CONTRACT , HAS RESERVED ALL OF ITS RIGHTS IN THIS MATTER; CONTRACT EXPECTED TO RUN UNTIL JAN 2023
    • MACMAHON LIKELY TO IDENTIFY TELFER CONTRACT AS ONEROUS AND RECOGNISE A PROVISION IN FY RESULT DUE LATER
    • CO ESTIMATES THAT PROVISION COULD BE IN ORDER OF $25 MILLION - $35 MILLION

    Source text http//reut.rs/2ZADlxP

    (([email protected];))

 
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