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

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

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