Oh dear target price of 1.47 yet we’re at just over half that,...

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Chao88

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14/12/21

19:27

Post #: 58291677
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Originally posted by sabine: ↑

I read WA is already bringing in 530 international arrivals a week (since the state was 70% vaccinated) .

- Surely many will have come/be coming to look for work .
And surely some will fill some of the gaps at MACA which currently has 99 positions vacant advertised on Seek - most in WA. (https://www.seek.com.au/MACA-jobs/at-this-company?sortmode=ListedDate).

In relation to “legacy issues” (as mentioned at AGM), MACA - for whatever reasons - has long been a bit of a “non event” performer in my experience (which is since around 2017?), and one of those three Mining West contracts from Downer was swiped by NRW Holdings, despite MACA sitting in the ‘incumbent’ position … but yes one can only hope

..Here’s an update from the goodly Stuart Mckinnon at The West to hopefully help steer us back into greener pastures by broadening awareness;

https://thewest.com.au/business/mining/maca-wins-70m-roy-hill-contract-c-4939301
MACA wins $70m Roy Hill contract

Stuart McKinnonThe West Australian
Tue, 14 December 2021 10:11AMComments
Stuart McKinnon

A digger loads ore onto a dump truck at Roy Hill. Credit: Philip Gostelow/Bloomberg

MACA has lifted its work in hand to $3 billion after winning a 12-month, $70 million mining contract with Roy Hill in the Pilbara.
The contract is set to begin early next year, involving open pit mining services including load and haul and drill and blast activities.
MACA began civil works at Roy Hill earlier this year.
MACA managing director Mike Sutton said the contract would use existing fleet and further secured the company’s solid presence in the Pilbara.
The company already has contracts in place with BHP, Fortescue Metals Group, Atlas Iron and CITIC Pacific Mining.
Euroz Hartleys senior research analyst Trent Barnett said MACA was trading below net tangible asset backing and on a single digit price-to-earnings ratio in a market short of people and equipment.
He noted the opening of the State’s borders in February should help its margins in the second half.
Euroz Hartleys has a buy recommendation on the stock and a share price target of $1.47.
MACA shares were steady at 77¢ at 10.10am.

Cheers

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Oh dear target price of 1.47 yet we’re at just over half that, nearly 100% upside, take Euroz buy side recommendation with a grain of salt.

MLD Price at posting: 77.0¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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